If you have a salary of $38 000, medical expenses of $1600, and an RRSP contribution of $4000 and the federal tax rate is 15 percent, what federal tax will you pay?
A) $4860
B) $5700
C) $5013
D) $5460
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If you have a salary of $38 000, medical expenses of $1600, and an RRSP contribution of $4000 and the federal tax rate is 15 percent, what federal tax will you pay?
A) $4860
B) $5700
C) $5013
D) $5460
First, the reference to RRSP indicates this is a Canada tax issue, and this forum deals exclusively with U.S. taxes.
Second, we are specifically prohibited from answering homework questions, as that defeats the purpose of the homework.
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