Question
(6 points) Taxylvania has tax code (hat rewards charitable giving If a person gives p% of his income to charity; Ihat person pays (45 1.3p) % lax n lhe remaining money: For example if a person gives 10% of his income t0 charity; he pays 32 % lax on the remaining money If a person gives 34.6153846153846 % of his income t0 charity; he pays no tax on the remaining money A person does nol receive a tax refund if he gives more than 34.6153846153846 % of his income to charity Count Taxula earns $ 1700
(6 points) Taxylvania has tax code (hat rewards charitable giving If a person gives p% of his income to charity; Ihat person pays (45 1.3p) % lax n lhe remaining money: For example if a person gives 10% of his income t0 charity; he pays 32 % lax on the remaining money If a person gives 34.6153846153846 % of his income t0 charity; he pays no tax on the remaining money A person does nol receive a tax refund if he gives more than 34.6153846153846 % of his income to charity Count Taxula earns $ 17000 What percentage of his income should he give t0 charity to maximize the money he has afler taxes and charitable giving? The count should give % t0 charily If the count did receive tax refund for giving more than 34.6153846153846 % of his income t0 charity; how much should he give t0 charity? The count should give % t0 charity- NOTE: Your answers must be numbers. No arithmetic operations are allowed
Answers
Manish's annual income is Rs 132000 . There is no income tax on the money donated to charity. On the remaining amount, he pays Rs 4480 as income tax at $4 \%$. What amount does he denote to the charity? (1) Rs 24500 (2) Rs 20000 (3) Rs 30000 (4) $\mathrm{R}$ s 18250
When it comes to calculating income tax, something that we want to understand is the idea of a piecewise function. So how taxation really works, at least in the United States is That for those who make more money there's going to be a higher percentage, such as maybe 0.3 or 0.35 or something like that. And for those that make less, there could be a 15% tax. Um So ultimately what this results in is a piecewise function where we see that if you fall on a certain income bracket, That over the course the income bracket you're taxed, save 15% and then if you reach a certain point in terms of your income, that will be the x axis, then the amount that you owe in taxes is going to start increasing, there's going to be a steeper slope because the percentage is going to increase and that's how income tax operates. Its by using this idea of the piecewise function.
Hello. Today we are doing this question. That series total income is roughly 16,500 Of this. Rupees 5000 is free of tax. Find the net income remaining with her after she paid the income tax off 5% in repeats. So today income of Syria is rupees Rs 16,500 5000 is free of tax. This escape. So the total taxable income will be At least 11,500 and uh -65000. Which was not, it was free of Tax. Tax paid by. Syrian is equal to taxable income into tax rate. So the tax will be rubies 575. Therefore the remaining income will be total income minus tax 16,500 -575. We get our answer that's 15,925. And this is our answer. Thank you.
We need to figure out what the range for the amount of tax you would pay for tax bracket number three. So basically it's from this number to this number because in the tax bracket for you play that plus 2088% more of 77th, 185,100. So our range is 44,000 $386.25 two I put down here on the bottom, I will put it 15,000 $698.75.
We need to figure out the amount of tax someone in tax bracket four would have to pay. So that is from 4 15,000 $698.75 up to the $39,148.75. Because in tax bracket five, they have to play that 39,000 plus 33% more over that. So our range for tax bracket for is from 15,000 $698.75 to I'm gonna put the rest of the number down here, 39,000 $149.75.