26 Jul CALCULATE FEDERAL INCOME TAXES AS A PERSON FILING SINGLE.
Donald is a civil engineer with an annual salary of $98000. He has dividends and interest of $7500 Show more Donald is a civil engineer with an annual salary of $98000. He has dividends and interest of $7500 for the year. Total exemptions and deductions are $10500. (a) Calculate federal income taxes as a person filing single. (b) Determine what percentage of his annual salary goes toward federal income taxes. (c) Calculate by how much the total of exemptions and deductions has to increase for Donalds income taxes to go down by 10%. ( d) The taxes paid to each of the state and federal governments Show less
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