Question by askareken: How do you calculate income tax by hand?
I have to take a math competency test as a graduation requirement and we have to calculate income tax without using a calculator.
The practice problem we have is
“Determine the income tax due if your gross income for last week was 88.75 claiming zero exemptions. How much less would your income tax due be if you claimed one exemption?” (Zero exemptions is $ 13.80 and one exemption is $ 11.30)
Answer by Hoax and Change
It is easy
What you earned less what you spent–send everything left to the government.
That is called “Share the Wealth” and is a major tenant of our present Administration
What do you think? Answer below!