SOLUTION: In 2021, a single person could expect to pay $4500 in income taxes on an adjusted gross income of $30,000. How much more tax should the person expect to pay if her adjusted gross i

Question 1196077: In 2021, a single person could expect to pay $4500 in income taxes on an adjusted gross income of $30,000. How much more tax should the person expect to pay if her adjusted gross income increased $2000, knowing that this would not move her into a higher tax bracket?
Found 3 solutions by ikleyn, MathTherapy, greenestamps:
Answer by ikleyn(52798)   (Show Source): You can put this solution on YOUR website!
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In 2021, a single person could expect to pay $4500 in income taxes on an adjusted gross income
of $30,000. How much more tax should the person expect to pay if her adjusted gross income
increased $2000, knowing that this would not move her into a higher tax bracket?
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Write a proportion = . Use the given info: = 30000; = 4500; = 30000 + 2000 = 32000. Substitute it into the proportion = . From the proportion, find = = 4800 dollars. The increase in tax is - = 4800 - 4500 = 300 dollars. ANSWER

Solved and carefully/thoroughly explained.

Answer by MathTherapy(10552)   (Show Source): You can put this solution on YOUR website!

In 2021, a single person could expect to pay $4500 in income taxes on an adjusted gross income of $30,000. How much more tax should the person expect to pay if her adjusted gross income increased $2000, knowing that this would not move her into a higher tax bracket?

15T = 16(4,500) ---- Cross-multiplying Tax on $32,000, or So, excess tax to be paid = $4,800 - $4,500 = $300

Answer by greenestamps(13200)   (Show Source): You can put this solution on YOUR website!

From the given information, the tax rate for this tax bracket is

$4500/$30000 = 0.15

The amount of additional tax on the additional $2000 is therefore

0.15($2000)=$300

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