Question:
Help with linear federal, state, and city tax problem?
anonymous
2009-05-09 14:49:03 UTC
Find the federal, state, and city taxes on the taxable incomes of the individuals listed in the table if the federal income tax is 20% of the taxable income after first deducting the state and city taxes; the state income tax is 10% of the taxable income after first deducting the federal and city taxes; and the city income tax is 5% of the taxable income after first deducting the federal and state taxes.

Taxable incomes: Mr. Dahlman $96,700, Mrs. Farrell $48,350

I already figured the taxes out for Mr. Dahlman and I am confident I arrived at the correct answer.
Here's how I did it. Let x be federal tax, y state tax, and z city tax.
5x+y+z=96,700
x+10y+z=96,700
x+y+20z=96,700
x=17,100, y=7,600, z=3,600

I don't really like how I got my answer and to be totally honest I am confused as to the steps I've taken to get the answers I have. Please show me how to do the income taxes for Mr. Dahlman in a different way than I figured it out if possible! Thanks!
Three answers:
alternate_male
2009-05-09 15:02:10 UTC
Do us all a favor and don't become an accountant or go into government service. You don't need all the y and z stuff. For example, the federal tax on amount A would be .20 * ( A - .10 * A - .05 * A ). Proceed accordingly.
aquila
2016-12-04 13:19:58 UTC
the government in all its varieties takes further and extra from all persons, wealthy or unfavourable, does not count. in case you get a wreck on federal taxes you don't get a wreck on state taxes, or you pay somewhat some your money in revenues taxes. a thank you to resign this is a question that occupies some persons and in others in simple terms creates the question of ways they are able to get extra. the only way that i would be sure to start having some administration is to totally abandon our present day style of taxation. on the federal point we ought to consistently visit a flat tax. purely a million deduction and that could word to easily everyone. That deduction could be approximately $30000 a year. this could go away the poorest the main money. Tax fee must be approximately 17%. that's it no different deductions for something, no credit, no to all the pages it takes to fill out your very own tax type. record your taxes on a postcard. the different ingredient i could do is get rid of withholding. easily everyone pays their taxes while they record. while taxes are withheld you're actually not conscious of ways lots you're definitely paying and it makes all of it too undemanding for the federal government to advance expenses when you consider which you do no longer definitely be conscious how lots is popping out of your verify. this will additionally help with state and local earnings taxes using fact they could now no longer be deductible human beings could pay extra interest to what those entities have been taking. sources taxes seem to circulate up each and every of the time no count the definitely cost of the abode or sources. thinking how lots abode values have dropped you're able to think of you're able to see decrease tax costs yet no they simply develop the % they base their calculations on. revenues taxes are the main honest of each and every of the present taxes using fact they are based completely on what you spend. human beings are additionally very conscious of ways lots revenues taxes are using fact they pay each time they keep. This retains this tax fee down using fact states and cities comprehend that voters are very conscious of ways lots they are paying. there are such somewhat some tax regulations that the federal tax regulation covers over 70000 pages. maximum of it in criminal gobbledy **** that the familiar American won't examine and could no longer comprehend in the event that they did examine it. Too long an answer i comprehend yet those are purely a number of my ideas on present day taxes.
?
2016-01-30 10:40:35 UTC
am looking for tax table to amend my 2014 taxes.


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