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I know the final answer need the steps to figure problem out please!

 

 Apr 9, 2018
 #1
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https://web2.0calc.com/api/ssl-img-proxy?src=%2Fimg%2Fupload%2F2bc35c167c283b602

 

Let  x  be the amount of income Joe would have to make for the 17% flat tax to equal the amount he pays in 2013.

 

17% of  x  =  the amount he pays in 2013

 

the amount he pays in 2013   =   44,603.25 + 33% of (300,000 - 183,250)

the amount he pays in 2013   =   44,603.25 + 0.33 * (300,000 - 183,250)
the amount he pays in 2013   =   83,130.75

 

17% of  x   =   83,130.75

 

0.17x   =   83,130.75

 

x   =   83,130.75 / 0.17

 

x  ≈  489004.41

 Apr 9, 2018
 #4
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Thanks for your help !!

Guest Apr 10, 2018
 #2
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First, figure out how much tax would Joe pay using the "tax rates" in your table:

$44,603.25 + ($300,000 - 183,250) x 33% =

$44,603.25 + ($116,750 x 0.33) =

$44,603.25 +      $38,527.50

=$83,130.75 - this is the income tax that Joe would pay using your table of tax rates.

$83,130.75 / 0.17 =$489,004.41 - this is the income that Joe would have to make for a flat rate of 17%.

 Apr 9, 2018
 #3
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Okay yes I remember now I think you helped me last time.

 

Thanks I'll write this down step by step!

I'm preparing for my exam so I'm going over the problems I have done already.

Guest Apr 10, 2018

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