Calculate the total amount of tax Beatrice pays? Beatrice has an income of $40000 in one year. She pays:no tax on the first $10000 of her income;10% tax on the next $10000 of her income;25% tax on...
Calculate the total amount of tax Beatrice pays?
Beatrice has an income of $40000 in one year. She pays:no tax on the first $10000 of her income;
10% tax on the next $10000 of her income;
25% tax on the rest of her income.
Therefore, calculate the total amount of tax Beatrice pays?
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Expert Answers
Rico Grant
| Certified Educator
calendarEducator since 2011
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Her tax liability is as follows:
(1)Begin with 40,000 in earnings.
(2) No tax on the first 10,000 -- leaving remaining taxable earnings of 30,000
(The entire section contains 40 words.)
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