Tax Brackets and Deductions Essay

timer Asked: Feb 7th, 2019
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Question Description

  1. Tax Brackets and Deductions

    Conduct online research for federal income tax brackets for the current year. Which tax bracket do you fit into for your gross household income? How close is your gross household income to the next lowest tax bracket? Create a list of possible deductions for your household. Are you able to reduce your taxable income enough to place you in the next lowest tax bracket? If not, what are some steps you could take to do so (this year or next year)?Criteria:The requirements below must be met for your paper to be accepted and graded:
    • Write a minimum of 400 words (approximately 2 pages) using Microsoft Word.
    • Attempt APA style, see example below.
    • Use font size 12 and 1” margins.
    • Include cover page and reference page.
    • At least 60% of your paper must be original content/writing.
    • No more than 40% of your content/information may come from references.
    • Use at least two references from outside the course material, preferably from EBSCOhost.
    • Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.
    • Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.
    • Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as, scholarly journals found in EBSCOhost, online newspapers such as The Wall Street Journal, government websites, etc.
    • Sources such as Wikis, Yahoo Answers, eHow, etc. are not acceptable.

Tutor Answer

School: Carnegie Mellon University

here we goLemme know in case of anythingAll the best and Goodbye

Running head: INCOME TAX


Income Tax







Income Tax

Individuals and Companies are required to make remit taxes to the tax authority.
Income taxes are imposed on salaries and wages. The accountant uses graduated tax brackets
to come up with the right amount of fees to be paid. The respective tax authority provides the
scales. The tax person has to understand the various allowances and tax deductions allowable
to any individual. Paying the wrong tax amount attracts enormous fines and penalties. This
paper evaluates income taxes.

The graduated scale has brackets between the 0-9700, 9701-39475, 39476-84200,
84201-160725, 160726-204100, 204101-510300 and 204101-510300 (Tax Bracket Changes,

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Good stuff. Would use again.

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