answersLogoWhite

0

What else can I help you with?

Continue Learning about Basic Math

What formula do you use to calculate income tax?

To calculate income tax, one should sum up the totals of all the taxable income and subtract from it the personal allowance and any other tax free allowances. After that, one should apply the rate of tax on the resultant value to find out the income tax payable.


How do you calculate how much your roommate has to pay when he earns more than you do?

To calculate how much your roommate should pay when he earns more, you can use a proportional method based on income. First, determine the total income of both roommates and the total rent or shared expenses. Then, calculate each person's percentage of the total income and use that percentage to allocate the expenses accordingly. This way, your roommate pays a larger share of the expenses relative to his higher income.


How much do make a year if you make 5500 a month?

If you make $5,500 a month, you can calculate your annual income by multiplying your monthly income by 12 months. So, $5,500 × 12 = $66,000. Therefore, you would make $66,000 a year.


How does VA calculate residual income?

The VA calculates residual income by assessing a borrower's monthly income and subtracting essential living expenses, such as housing costs, utilities, and other necessary expenditures. This calculation determines the amount of discretionary income remaining after these obligations, which helps ensure that the borrower has sufficient funds to cover additional costs and maintain a stable financial situation. The VA uses specific guidelines that vary by location and family size to establish the minimum acceptable levels of residual income.


How do you calculate the tax on a premature distribution of an IRA?

To calculate the tax on a premature distribution from an IRA, you first determine the amount being withdrawn before the age of 59½. This amount is generally subject to ordinary income tax, which is based on your tax bracket. Additionally, a 10% early withdrawal penalty applies to the distribution unless you qualify for an exception. To compute the total tax impact, add the income tax amount and the penalty together.

Related Questions

How you Calculate Provision for Income tax?

how to calculate provison for income tax


How do you calculate pretax net operating income?

How do you calculate pre-tax net operating income


What is the simplest income tax form?

The EZ form is the simplest.


How do you calculate our annual income?

i am not good in maths, but generally we can calculate annual income by multiplying our monthly income by 12.. as if know how much is our monthly income.. similarly by multiplying, we can find annual income on behalf of weekly income, or daily income or even on hourly income...


How do you calculate taxes for your income?

To calculate taxes for your income, you need to determine your taxable income by subtracting any deductions or exemptions from your total income. Then, use the tax brackets provided by the government to find the percentage of tax you owe based on your taxable income. Finally, multiply your taxable income by the tax rate to calculate the amount of taxes you owe.


To calculate disposable personal income you take personal income and subtract what?

individual income taxes


How do I calculate my taxes on my paycheck?

To calculate your taxes on your paycheck, you need to know your gross income, deductions, and tax rates. Subtract deductions from your gross income to get your taxable income. Then, apply the appropriate tax rates to calculate the amount of taxes owed.


How do I calculate taxes on my paycheck?

To calculate taxes on your paycheck, you need to know your gross income, deductions, and tax rates. Subtract deductions from your gross income to get your taxable income. Then, apply the appropriate tax rates to calculate the amount of taxes owed.


How to calculate the taxes on my paycheck?

To calculate the taxes on your paycheck, you need to know your gross income, deductions, and tax rates. Subtract deductions from your gross income to get your taxable income. Then apply the appropriate tax rates to calculate the amount of taxes owed.


How do you calculate total operating income?

Gross ProfitLess: Operating expensesOperating income


How do you calculate tax deductions for your income?

To calculate tax deductions for your income, you can subtract eligible expenses and deductions from your total income. This reduced amount is then used to determine the amount of tax you owe.


How to calculate Canada pension plan deductions?

Allen earns 2880 monthly calculate his deductions and his monthly net income ei 1.73 cpp 4.95 taxable income income tax deducted 22.5 net income