2007 Federal Income Tax Table Single: OverBut not overThe tax is$0$7,82510% of the amount over $0$7,825$31,850$788 + 15% of the amount over $7,825$31,850$77,100$4,386 + 25% of the amount over $31,850$
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2007 Federal Income Tax TableSingle:OverBut not overThe tax is$0$7,82510% of the amount over $0$7,825$31,850$788 + 15% of the amount over $7,825$31,850$77,100$4,386 + 25% of the amount over $31,850$77,100$160,850$15,699 + 28% of the amount over $77,100$160,850$349,700$39,149 + 33% of the amount over $160,850$349,700And Over$101,469 + 35% of the amount over $349,700
Mr. Profit had a taxable income of $35,000. He figured his tax from the table above.
1. Find his earned income level.
2. Enter the base amount. = $ 31,850431.135,173.503,1504,38625787.50
3. Find the amount over $ 431.134,3865,173.5025787.5031,8503,150 = $ 31,8505,173.50787.503,150431.134,38625
4. Multiply line 3 by 3,150787.505,173.5031,850431.134,38625% = $ 31,850787.50255,173.50431.134,3863,150
5. Add Lines 2 and 4 = $ 787.50431.13255,173.5031,8504,3863,150
6. Compute his monthly withholding would be = $ 431.1331,8503,15025787.505,173.504,386
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