Question

My answer is wrong, i"m not too sure about what to do

1) Mohammed finished his PhD and graduated from Concordia in December 2018. He entered the workforce on January 1, 2019 with a gross salary of $85,000 plus an immediate $5,000 signing bonus when he started with his new employer, XYZ Inc. As a resident of Quebec, calculate his combined 2019 taxes payable. (see Table A; ignore Non-Refundable Tax Credits, Quebec Abatement and any employer withholdings) 43 790(0,7753) a) $31,291.78 + (90000 -43790) (0.3253) b) $29,129.28 46210 c) $29,325.98 d) $30,257.92 e) $28,422.76 TABLE A 2019 Combined Federal and Quebec Personal Income Tax Brackets and Tax Rates 2019 Taxable income 2019 Tax Rates - 20 7 5 2019 Taxable income over $95,259 up to $106,555 2019 Tax Rates 45.71% first $43,790 27.53% over $43,790 up to $47,630 3 2.53% 47.46% over $47,630 up to $87,575 37.12% over $106,555 up to $147,667 over $147,667 up to $210,371 over $210,371 49.97% over $87,575 up to $95,259 41.12% 53.31%

Answer 1

Answer:- b) $29,129.28

Computation:-

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Upto $43,790 Over $43,790 to $47,630 Over $47,630 to $87,575 Over $87,575 to $90,000 27.53% 32.53% 37.12% 41.12% 12055.39 (43790*.2753) 1249.15 (47,630-43,790)*.3253 14827.58 (87,575-47,630)*.3712 997.16 (90,000-87,575)*.4112 Taxes Payable 29129.28