The federal tax will he owe (round your final answer to the nearest whole dollar.) (use tax rate schedule.) $10,771.25
$10,771.25 = 5,183.75 + .25(60,000 - 37,650)
One strategy you can always employ is to figure your taxes both ways, either taking the anticipated income from the suggested investment into account or leaving it out. You may calculate the economic marginal tax rate from investing by dividing the difference in tax by the amount of income from the investment.
According to the present value of money, $1 today is worth more than $1 in a year, assuming a positive interest rate.
In terms of federal income tax rates and brackets, there is no change in the rates themselves from 2022 to 2023. The same seven tax rates from 2022—10%, 12%, 22%, 24%, 32%, 35%, and 37%—remain in place for 2023.
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