Solve the problem. Refer to the table if necessary.
-Kelsey earned $65,208 in wages. Conner earned $65,208, all in dividends and long-term capital gains. Calculate the overall tax rate for each, including both FICA and income taxes. Assume they
Are both single and take the standard deduction. Note that long-term capital gains and dividends
Are taxed at 0% for income in the 10% and 15% tax brackets and at 15% for income in all higher tax
Brackets.

Question

Solve the problem. Refer to the table if necessary. 
-Kelsey earned $65,208 in wages. Conner earned $65,208, all in dividends and long-term capital gains. Calculate the overall tax rate for each, including both FICA and income taxes. Assume they
Are both single and take the standard deduction. Note that long-term capital gains and dividends
Are taxed at 0% for income in the 10% and 15% tax brackets and at 15% for income in all higher tax
Brackets.

Quizplus · Accepted Answer

The Answer of Solve the problem. Refer to the table if necessary. 
-Kelsey earned $65,208 in wages. Conner earned $65,208, all in dividends and long-term capital gains. Calculate the overall tax rate for each, including both FICA and income taxes. Assume they
Are both single and take the standard deduction. Note that long-term capital gains and dividends
Are taxed at 0% for income in the 10% and 15% tax brackets and at 15% for income in all higher tax
Brackets.

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