Abbigail2017
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Tim Tradesman estimates his taxable income will be $7,500. He is paid every two weeks or 26 times a year.
Because Tim has only one source of income, he uses the Tax Tables to estimate how much will be deducted form his pay for withholding.


1. Finds the tax rate for his income level =__________%

2. Enters the base amount =__________$

3. Enters the amount of tax owed =__________$

4. Divides by __________= $ __________

Tim Tradesman estimates his taxable income will be 7500 He is paid every two weeks or 26 times a year Because Tim has only one source of income he uses the Tax class=

Respuesta :

YellowGold
Given:
Taxable income: 7,500
Paid every two weeks or 26 weeks in a year

Based on 2007 Federal Income Tax Table for Single Taxpayer, Tim is under the tax range over $0 but not over $7,825. The tax is 10% of the amount over $0.

1. Finds the tax rate for his income level =10 %

2. Enters the base amount = $7,500

3. Enters the amount of tax owed = $7,500 * 10% = $750

4. Divides by 26 = $750 / 26 = $28.85 tax withheld from biweekly wages.

Answer:

1. Find the tax rate of his income level. = 10%

2. Enters the base amount. = $0

3. Enters the amount of tax owed. = $750

4. Divides by 26 = $28.85

Step-by-step explanation:

First guy was right except #2, the base amount for his tax bracket is $0 not $7,500

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