1. Determine the taxable income, to the nearest penny, for an individual filing jointly who pays a tax of $546.37.
2. If an individual filing jointly pays a tax of $278.36, determine the taxable income. Express your answer to the nearest cent.
3. If an individual’s taxable income is $6,300 determine the amount of tax to the nearest cent.
142.50 + 0.05 (6,300 - 5,250) = $195
I think this is how you set up this problem but do not know how to set up numbers 1 and 2 because they are under $750 and 1% taxable income.
Please explain. Thank you!
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Yeah lol im learning this in math under piecewise functions chapter?
@IrishBoy123 so do you know how I would set the first two up do i just multiply 0.01% by 546.37?
you make a lot of sense there, but note the table is for people filing jointly
have you factored that in?
how do I factor that in?
that's what worries me. this is for an individual filing jointly. does he\she pay half and the other spouse pay half? can we trust the amount as the total contribution for both partners? there is not enough info here for this to be a math question, i would argue.
@IrishBoy123 I was reading the it says that "The following table is from the Georgia Income Tax table for married persons filing jointly" I don't know if this is important?