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Q: Basic Business Application ( No Answer,   3 Comments )
Question  
Subject: Basic Business Application
Category: Business and Money
Asked by: deedee33-ga
List Price: $2.00
Posted: 24 Oct 2005 10:22 PDT
Expires: 23 Nov 2005 09:22 PST
Question ID: 584228
Let's say someone gets a raise which increases his or her earnings
enough to definitely move him or her into a higher tax bracket. Will
the entire salary be taxed at the new higher rate? Give an example to
justify your answer. To put your example together, use the percentage
chart method. Assume no other deductions. Choose one tax bracket to
calculate the taxes. For the second part of your example, add enough
to the pay to force going into the next tax bracket.
Answer  
There is no answer at this time.

Comments  
Subject: Re: Basic Business Application
From: vballguy-ga on 24 Oct 2005 11:24 PDT
 
I think this question is mis-classified - it probably needs to be in
homework/test questions.....
Subject: Re: Basic Business Application
From: noledge-ga on 24 Oct 2005 15:15 PDT
 
Only the amount that is into the next tax bracket is taxed at the
higher marginal tax rate.
Subject: Re: Basic Business Application
From: deedee33-ga on 24 Oct 2005 16:11 PDT
 
Is it possible to give an example.  It would be much appreciated for clarification.

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