Identify one tax (other than federal personal income tax) you pay and one benefit you utilize that is funded by tax dollars. How do both of these impact your life and your family member’s lives?
The revenue collected from Sales Tax is used by government for providing a comfortable and better life to the citizens. Certain benefits are listed below:
To conclude Sales tax helps in providing various infrastructural facilities to citizens which make their lives safe, secure and comfortable.
Identify one tax (other than federal personal income tax) you pay and one benefit you utilize...
Identify the various and specific taxes that federal, state, and local governments utilize to fund the public sector. What are the impact of these taxes on both the producer and consumer? How do these taxes affect you?
3. Many years ago, there were calls to simplify federal personal income tax code. One proposal was a flat tax. Under this proposal, each individual is allowed a standard deduction of, say, $20,000, and each family is allowed a standard deduction of $40,000. No other exemptions and deductions are allowed. The remaining income is subject to one flat tax rate of say, 20%. (2 Point) Please analyze the vertical equity of a flat tax designed like this, from both marginal...
Don and Cynthia are married, and they will file a joint federal income tax return for 2018. Their 21-year-old daughter, Matilda, is a full-time student at their state university. She is their only dependent. Don and Cynthia are most likely to benefit from which of the following? The personal and dependent exemption. A refundable family tax credit. An adjustment for non-child dependents, reported on Schedule 1. A nonrefundable credit for other dependents.
Considering the differences other than personal income taxes, what companies should pay dividends rather than repurchase shares? How important is the right choice between the two?
Discuss what cultural competence is in healthcare. Identify your cultural ancestry. If you have more than one cultural ancestry, chose the one with which you most closely associate. Explore the willingness of individuals in your culture to share thoughts, feelings, and ideas. Can you identify any area of discussion that would be considered taboo? Explore the practice and meaning of touch in your culture. Include information regarding touch between family members, friends, members of the opposite sex, and health-care providers....
(2.5 points) The following table indicates the Federal Personal Income Tax Rates in 1989. Income Marginal Tax Rate Taxes Paid $0 0% $1 -- $29,750 15% $29,751 -- $71,900 28% $71,901--$149,250 33% Over $149,250 28% (.5 points) Would you characterize this tax schedule as proportional, progressive, or regressive? Explain why. (.5 points) Suppose a person earns $135,000 in 1989. Show in the table the taxes this person would pay in each income category. (.5 points) Calculate the tax rate that...
3. The following table shows the federal income tax owed by a single taxpayer for the given level of taxable income for 2015. Both are measured in dollars. Taxable Income 97000 97050 97100 97150 97200 97250 97300 Tax Owed 20238 20252 20266 20280 20294 20308 20372 a) Show that, over the range of taxable income shown in the table, the tax owed is a linear function of taxable income. b) What tax do you owe if you have a taxable...
Ohe bookmak PSa 3-6 Calculate Federal (Wage-Bracket Method), State, and Local Income Tax Withholding For each employee listed, use the wage-bracket method to calculate federal income tax withholding. Then calculate both the state income tax withholding (assuming a state tax rate of 5.0% of taxable pay, with taxable pay being the same for federal and state income tax withholding), and the local income tax withholding. Refer to Appendix A, 2018 Federal Tax Tables in your textbook. NOTE: For simplicity, all...
Identify one culture other than personal culture and describe an alternative intervention used for health care practices. Support your description with a peer-reviewed article.
Use the Tax Rate Schedules to compute Morgan’s 2018 Federal income tax liability. Morgan (age 45) is single and provides more than 50% of the support of Rosalyn (a family friend, age 36), Flo (a niece, age 18), and Jerold (a nephew, age 18). Both Rosalyn and Flo live with Morgan, but Jerold (a citizen of France) lives in Canada. Morgan earns a $95,000 salary, contributes $5,000 to a traditional IRA, and receives sales proceeds of $15,000 for an RV...