Chuck a single taxpayer earns 84,500 in taxable income and 23,000 in interest fr
ID: 2328079 • Letter: C
Question
Chuck a single taxpayer earns 84,500 in taxable income and 23,000 in interest from an Investmentin bonds. Required A) if chuck earns an additional $56,000 of taxable income, what is the marginal tax rate on this income? B) wat is his marginal rate if, instead he had $56,000 of additional deductions Using 2018 tax rateschedule Chuck a single taxpayer earns 84,500 in taxable income and 23,000 in interest from an Investmentin bonds. Required A) if chuck earns an additional $56,000 of taxable income, what is the marginal tax rate on this income? B) wat is his marginal rate if, instead he had $56,000 of additional deductions Using 2018 tax rateschedule Required A) if chuck earns an additional $56,000 of taxable income, what is the marginal tax rate on this income? B) wat is his marginal rate if, instead he had $56,000 of additional deductions Using 2018 tax ratescheduleExplanation / Answer
For option A the marginal rate will be zero as it doesn't cross the basic exemption limits
For option B the marginal rate will be Zero only.