Title

hris's employer will owe a penalty for under withholding. O Chris will not have to file a tax return

Description

hris's employer will owe a penalty for under withholding. O Chris will not have to file a tax return Your employer offers dental insurance for $$440$ per year pretax through your employee benefit plan. However, your employer does not contribute toward the cost, and your marginal tax rate will be $24\%.$ Buying the dental insurance through payroll deduction does not offer any financial advantage to you. will cost you $24\%$ of $$440,$ so you will save $$334$ will cost you $24\%$ of $$440,$ so the net cost is $$546.$ will save you $$106$ in taxes,

Based on his taxable income calculation on his tax return, Chris owes $$1290$ in federal income taxes for the year. His employe

so the net cost is $$334$ You were single and had taxable income of $$48825$ in $2019.$ What is your marginal tax rate? Schedule X$.2019$ Tax Rate Schedule for Single Filers If your taxable income is: Over: But not more than: You will owe: $ $0$ $ $9,70010\%$ of $ $9,700$ $ $39,475$ s $970+12\%$ of Taxable income over: $ $0$ $ $9\mathrm{.}70039,475$ $ $84,200$ $ $4,543+22\%$ of $ $39,475$ $

Your employer offers dental insurance for $$440$ per year pretax through your employee benefit plan. However, your employer doe

$84\mathrm{.}200$ $ $160\mathrm{.}725$ $ $14,383+24\%$ of $ $84,200$ $ $160,725$ $ $204,100$ $ $32,749+32\%$ of $ $160,725$ $ $204,100$ $ $510,300$ $ $46,629+35\%$ of $ $204,100$ $ $510,300$ $ $153,799+37\%$ of $ $510,300$ Schedule Y$-1.2019$ Tax Rate Schedule for Married Filing Jointly If your taxable income is: Over: But not more than: You will owe: Taxable income over: $ $0$ $ $19\mathrm{.}40010\%$ of $ $0$ $ $19,400$ $ $78\mathrm{.}950$ $ $ $1\mathrm{.}940+12\%$ of $19,400$ $ $78,950$ $ $168,400$ $ $9,086+22\%$ of $ $78\mathrm{.}950$ $ $168,400$ $ $321,450$ $ $28,765+24\%$ of $ $168,400$ $ $321,450$ $ $408,200$ $ $65,497+32\%$ of $ $321,450$ $ $408\mathrm{.}200$ $ $612,350$ $ $93,257+35\%$ of $ $408\mathrm{.}200$ $ $612,350$ $ $164,710+37\%$ of $ $612,350024022$ O $12$ O $10$

Estimated Deadline $($in