ECONOMICS
INCENTIVES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Marielle computed her taxable income last year as $47, 678. Over the year, she paid $7, 201 in federal withholding. Her tax bracket shows that she owes $6, 358. What is her refund?
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$843
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$830
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$855
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$868
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Explanation:
Detailed explanation-1: -Your gross income minus all available deductions is your taxable income. Compare that amount to your tax bracket to estimate the amount you’ll owe before applying any available tax credits.
Detailed explanation-2: -4.4 Current tax is the amount of income tax determined to be payable (recoverable) in respect of the taxable income (tax loss) for a period. 4.5 Deferred tax is the tax effect of timing differences.
Detailed explanation-3: -To calculate the real rate of return after tax, divide 1 plus the after-tax return by 1 plus the inflation rate, then subtract 1. Dividing by inflation reflects the fact that a dollar in hand today is worth more than a dollar in hand tomorrow.
There is 1 question to complete.