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Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes for the year 2015? Round to the nearest dollar.
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Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes for the year 2015? Round to the nearest dollar.

User Robwirving
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1 Answer

4 votes

Answer:

Josh's taxes for the year 2015 are $16481.25.

Step-by-step explanation:

tax rates are 10%, 15% and 25%.

Josh's taxes = 10%×9075 + 15%×(36900-9075) + 25%×(82500-36900)

= $907.5 + $4173.75 + $11400

= $16481.25

Therefore, Josh's taxes for the year 2015 are $16481.25.

User Jordanm
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