Chuck a single taxpayer earns 84,500 in taxable income and 23,000 in interest fr

Question

Chuck a single taxpayer earns 84,500 in taxable income and 23,000 in interest from an Investmentin bonds. Required A) if chuck earns an additional $56,000 of taxable income, what is the marginal tax rate on this income? B) wat is his marginal rate if, instead he had $56,000 of additional deductions Using 2018 tax rateschedule Chuck a single taxpayer earns 84,500 in taxable income and 23,000 in interest from an Investmentin bonds. Required A) if chuck earns an additional $56,000 of taxable income, what is the marginal tax rate on this income? B) wat is his marginal rate if, instead he had $56,000 of additional deductions Using 2018 tax rateschedule Required A) if chuck earns an additional $56,000 of taxable income, what is the marginal tax rate on this income? B) wat is his marginal rate if, instead he had $56,000 of additional deductions Using 2018 tax rateschedule

Explanation / Answer

For option A the marginal rate will be zero as it doesn't cross the basic exemption limits

For option B the marginal rate will be Zero only.

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