SOLUTION: this may be an expression to simplify the expression but here it goes:
Marriage Penalty eliminated The value of the expression
4220+0.25(x - 30,650)
is the 2006 federal income t
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Question 201581: this may be an expression to simplify the expression but here it goes:
Marriage Penalty eliminated The value of the expression
4220+0.25(x - 30,650)
is the 2006 federal income tax for a single taxpayer with
taxable income of x dollars, where x is over $30,650 but
not over $74,200.
a) Simplify the expression.
b) Find the amount of tax for a single taxpayer with
taxable income of $40,000.
c) Who pays more, a married couple with a joint taxable
income of $80,000 or two single taxpayers with
taxable incomes of $40,000 each?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Marriage Penalty eliminated The value of the expression
4220+0.25(x - 30,650) is the 2006 federal income tax for
a single taxpayer with taxable income of x dollars, where
x is over $30,650 but not over $74,200.
a) Simplify the expression.
4220 + (1/4)x - 7662.50
------------------------------------
b) Find the amount of tax for a single taxpayer with
taxable income of $40,000.
------------------------------------
4220 + (1/4)(40,000) - 7662.50 = $6557.50
------------------------------------
c) Who pays more, a married couple with a joint taxable
income of $80,000 or two single taxpayers with
taxable incomes of $40,000 each?
---
If x = 80000 you get 4220 + 20,000-7662.50 = 16,557.5
If x = 40,000 you get tax of 6557.50 twice = 13,115
So it's cheaper for the couple to not be married.
======================================================
Cheers,
Stan H
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