Question

Follow the steps to calculate the federal income tax owed on a $30,000 sallary, using the given tax rates.
Now calculate the amount of federal income tax owed in the 12% bracket.

Standard deduction $12,200
$0 to $9,700 is 10%
$9,701 to $39,475 is 12%

Taxable income = $17,800
$9,700 10% = $970
8,100 12% =

Answer 1

To calculate the federal income tax owed on a $30,000 salary, we need to follow these steps:

1. **Calculate Taxable Income**:
Start with the salary and subtract the standard deduction.

\[
\text{Taxable Income} = \text{Salary} - \text{Standard Deduction}
\]
\[
\text{Taxable Income} = 30,000 - 12,200 = 17,800
\]

2. **Calculate the Tax Breakdown**:
- The first $9,700 is taxed at 10%:
\[
\text{Tax for first bracket} = 9,700 \times 0.10 = 970
\]

- The remaining amount above $9,700 (which is $17,800 - $9,700 = $8,100) is taxed at 12%:
\[
\text{Tax for second bracket} = 8,100 \times 0.12 = 972
\]

3. **Total Tax Owed**:
Add the taxes from both brackets:
\[
\text{Total Tax} = \text{Tax for first bracket} + \text{Tax for second bracket}
\]
\[
\text{Total Tax} = 970 + 972 = 1,942
\]

So, the total federal income tax owed on a $30,000 salary, after accounting for the standard deduction, is **$1,942**.

To specifically address the tax owed in the 12% bracket:
\[
8,100 \times 0.12 = 972
\]
Thus, the amount of federal income tax owed in the 12% bracket is **$972**.