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What happens to the percentage of an income that is taxed when income rises and the tax is a proportional one?
The percentage of an income that is taxed will stay the same when income rises until that income reaches a certain point set by the government. A higher tax bracket may mean a higher portion of the income will be taxed.
What is the point of a w-4 form?
Tax purposes. It's to see how much you are to withhold from government taxes for purposes like family. If you claim 0 you are not claiming anyone, even yourself and more than likely will end up with more money on your tax return though each pay period you will be taxed more. If you claim 1+ you will be taxed less during each pay period but may receive less on your tax return and even owe the government.
How much would you pay if something cost 800.00 and you were taxed 15 percent?
$120.00
How much tax would you pay if you won 1.5 million dollars?
If you win 1.5 million dollars in the lottery, 35% of the money will go to the government and a certain percentage will go to the state (this percentage is state dependent). For example, if you won the 1.5 million dollars while living in Arizona, you would be taxed 35% by the government and 5% by the state, leaving you with about 900,000 dollars.
How people use math in money?
Money is a quantified unit of dollars and cents, or whatever currency that is in use in your country. Math is used at the following places: Stores: The computer tallies the total amount of the prices of the items that you buy. You hand over money and get change back.. Banks: Deposits, withdrawals, and interest rates require math to calculate. Stock Market: The price of stocks, as well as other parameters for a publicly traded company is based on some very complicated mathematical models Business (in general): Revenue - costs = profit is pretty simple, but costs can be complicated to figure out. You have production costs, materials cost (if applicable), labor cost + benefits cost for those employees, facilities (lease, rent), electricity, etc... Employee Paycheck: In the United States, we have something called an income tax where a portion of one's income is taxed at a certain percentage based on how much one makes. There are federal and state income taxes, social security taxes, medicare, disability, healthcare contributions, etc. All of these require math to calculate. The biggest thing to remember is when money is involved, there is no limit to the amount of math that can be used to keep that money.
