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How would a single person with a taxable income of $15,000.00 per year and a single person with a taxable income of $300,000.00 per year be treated differently-and similarly-in terms of national taxes?

Respuesta :

sammcgourty

Answer:

Would a person earning $15,000 per year and a person earning $300,000 per year be in the same federal tax bracket? ... No, because federal income tax is progressive. If single in 2014, the $15,000 would be in the 15% marginal bracket, the $300,000 would be in the 33% marginal bracket. When would you have to pay a gift tax?

Explanation:

Tundexi

Because the national tax is based on progressive tax method, then, the tax rate will be higher for high income earners and vice versa.

What is the progressive tax method?

This is a taxation method that works that imposing a tax rate based on the taxpayer ability to pay them.

The progressive tax imposed higher rate for high income and lower rate for low income.

Therefore, the national tax is based on progressive tax method which is reflected in the question aksed.

Read more about progressive tax

brainly.com/question/1601662

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