Math Problem Statement

Aliza Grajek is a​ self-employed nurse with

20202020

salary income of

$ 84 comma 000.00$84,000.00

and taxable annual income​ (federal and​ state) of

$ 64 comma 000.00$64,000.00

after adjustments and deductions. Calculate her total

20202020

income tax​ liability, including federal and FICA taxes.

Solution

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Math Problem Analysis

Mathematical Concepts

Taxation
Percentage Calculations
Income Brackets

Formulas

Federal Income Tax: (Taxable Income - Bracket Threshold) × Tax Rate
FICA Social Security Tax: Income × 6.2%
FICA Medicare Tax: Income × 1.45%

Theorems

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Suitable Grade Level

College or Advanced High School (Grades 11-12)