Financial Algebra Module 7 (7.1 & 7.2)

Write the equation that represents the taxable income for a person whose filing status is married filing separately in the interval for over $84,200 but not over $160,725?

• 14,382.50 + .24(x - 160,725)

• 14,382.50 + .24(x - 84,200)

• 32,784.50 + .32(x - 160,725)

• 4,543 + .22(x - 84,200)

Write the equation that represents the taxable income for a person whose filing status is head of household in the interval for over $204,100 but not over $510,300?

• 45,210 + .35(x - 204,100)

• 152,380 + .37(x - 510,300)

• 31,322 + .32(x - 204,100)

• 45,210 + .35(x - 510,300)

Matthew's tax status is married filing jointly with his wife. He is doing his taxes and determines that their taxable income is $122,351. Use the tax schedule to determine their taxes. How much do they owe in taxes?

• $36,003.22

• 26,917.22

• $19,216.78

• $18,634.22

John's tax status is single. He is doing his taxes and determines that his taxable income is $165,421. The next step is to use the tax schedule to determine their taxes. How much does he owe in taxes?

• $34,250.72

• $52,934.72

• $45,125.28

• $21,775.15

Tags

CCSS.8.F.B.4

CCSS.HSF.IF.B.6

Using the tax schedule for a person with a filing status as head of household, what taxable income would yield a tax of exactly $74,274.25?

• $462,917.23

• $296,233.33

• $287,140.71

• $223,483.56

Tags

CCSS.HSF.LE.A.2

Chris is filling married filing jointly on his tax forms. Last year he worked while his wife stayed home to take care of the family and made $79,285. How much does Chris owe in taxes?

• $16,006.59

• $9,159.70

• $12,181.41

• $16,019.68

Tags

CCSS.8.F.B.4

CCSS.HSF.IF.B.6

Jacob is filling single on his tax forms. Last year he worked part time and made $27,497. How much does Jacob owe in taxes?

• $3,105.64

• $3,286.58

• $3,711.25

• $3,294.06

Tags

CCSS.8.F.B.4

CCSS.HSF.IF.B.6

If Norman is filling head of household on his Federal Taxes and determines he owes $3899 in taxes, what is the correct written interval that would represent his income?

• 0 ≤ i < 13,850

• 13,850 ≤ i < 52,850

• 52,850 ≤ i < 84,200

• 1,385 ≤ i < 13,850

If Ashley is filling single on her Federal Taxes and determines she owes $23,435 in taxes, what is the correct written interval that would represent her income?

• 9,700 ≤ i < 39,475

• 39,475 ≤ i < 84,00

• 84,200 ≤ i < 160,725

• 160,725 ≤ i < 204,100

If Max's federal income tax bracket is 33% and his gross income is $24,388, How much does he owe in taxes?

• $8,048.04

• $73,903.03

• $90.41

• $183.44

Tags

CCSS.6.EE.B.6