Questions: Kelly's taxable income is 110,000. Approximately what percent of her taxable income is her tax?

Transcript text: Kelly's taxable income is $\$ 110,000$. Approximately what percent of her taxable income is her tax?

Solution

Solution Steps

To find the percentage of Kelly's taxable income that is her tax, we need to know the amount of tax she owes. Assuming we have a tax rate or tax bracket information, we can calculate the tax amount and then find the percentage of her taxable income that this tax amount represents.

Step 1: Determine the Tax Amount

Given the taxable income $ \$110,000 $ and a tax rate of $ 0.25 $, we calculate the tax amount as follows: \[ \text{Tax Amount} = \text{Taxable Income} \times \text{Tax Rate} = 110000 \times 0.25 = 27500 \]

Step 2: Calculate the Tax Percentage

Next, we find the percentage of the taxable income that the tax amount represents: \[ \text{Tax Percentage} = \left( \frac{\text{Tax Amount}}{\text{Taxable Income}} \right) \times 100 = \left( \frac{27500}{110000} \right) \times 100 = 25 \]