For 2015,Tom Has Taxable Income of $48,005

question 17

Essay

For 2015,Tom has taxable income of $48,005.When he uses the Tax Tables,Tom finds that his tax liability is higher than under the Tax Rate Schedules.
a.​
Why is there a difference?
b.Can Tom use the Tax Rate Schedules?

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Definitions:

Outsourcing

The practice of hiring third parties to execute services or produce goods that were traditionally performed in-house.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Legal And Social Obligations

The responsibilities and duties that individuals and organizations must adhere to, based on both legal requirements and ethical considerations within society.

Enhanced Citizenship Role

A concept referring to increased participation and engagement of individuals in their community or society, beyond their basic rights and obligations.