Miley, a Single Taxpayer, Plans on Reporting $28,650 of Taxable

question 84

Multiple Choice

Miley, a single taxpayer, plans on reporting $28,650 of taxable income this year (all of her income is from a part-time job) . She is considering applying for a second part-time job that would give her an additional $10,000 of taxable income. By how much will the income from the second job increase her tax liability? (use the tax rate schedules)

• A) $1,000
• B) $1,500
• C) $1,600
• D) $2,500

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Definitions:

Apparent Agency

A legal concept where a principal is liable for the acts of an agent who appears to be acting under their authority, even if the agent isn't.

Wholesale Jeweler

A business or individual who sells jewelry in large quantities at lower prices to retailers, rather than directly to consumers.

Retail Jewelry Store

A business establishment that specializes in selling jewelry and related accessories to consumers.

Termination Of Agency

The process by which an agency relationship is ended, possibly due to the accomplishment of the agency's purpose, mutual agreement, or revocation by either party.