close
    what is the tax on 1200 dollars

    0  Views: 3309 Answers: 1 Posted: 14 years ago

    1 Answer

    The tax is dependent on your total income not just one payment. If you are on say 30 cents in tne dollar that is the amount of tax ie: 30 cents for each dollar. If however you are on 48 cents in the dollar that is the tax rate on any new income. You may also find that the payment could put you into a higher tax bracket that is say you are on the border line of a tax bracket then the new payment would possibly put you into a higher bracket in which case you would pay tax on your TOTAL income at the new bracket level. If you have no income that is taxed then there is no tax on the $1200. Confused? taxation is not a easy one to answer without full details.


    Top contributors in Buying & Selling category

     
    ROMOS
    Answers: 27 / Questions: 0
    Karma: 1485
     
    Colleen
    Answers: 67 / Questions: 0
    Karma: 1445
     
    Ducky
    Answers: 11 / Questions: 0
    Karma: 810
     
    country bumpkin
    Answers: 11 / Questions: 0
    Karma: 675
    > Top contributors chart

    Unanswered Questions

    br333link
    Answers: 0 Views: 6 Rating: 0
    58wint6live
    Answers: 0 Views: 8 Rating: 0
    unutma beni kolonyası
    Answers: 0 Views: 8 Rating: 0
    Cá độ bóng đá
    Answers: 0 Views: 7 Rating: 0
    Ta28
    Answers: 0 Views: 7 Rating: 0
    iMax IPTV
    Answers: 0 Views: 8 Rating: 0
    vinfast dongnai
    Answers: 0 Views: 7 Rating: 0
    13win
    Answers: 0 Views: 7 Rating: 0
    > More questions...
    497520
    questions
    733596
    answers
    833920
    users