Sunday, 13 July 2008 00:00
harriettviv6@verizon.net
Business & Finance -
Taxes
20% is what my 18 year old grandson has to pay for taxes since he is a beneficiary of a death benefit. he can either have it deducted now before he receives his money or file it next year with the irs. i suggested he just get it out the way now. we were wondering just how much is 20% would be
well..the answer is already given...I would like to add for the explanation on how it is calculated...
20% mean...20 per hundred..
...
.. when it is 100...then 20% of it is 20
so, when it is 1.....then 20% of it is 20/100 (being divided as it would be less)
so when t is 71,791.04....then 20% of it would be (20/100) * 71,791.04
I hope it explains to you why u have to multiply by .20...
report abuse
vote down
vote up
googie
Votes: +0
Move the decimal point one place to the left. Multiply what you see by 2 and that is the answer.. As for paying the tax immediately, you are giving up 5 months of earnings on the tax amount.
report abuse
vote down
vote up
twztd_vi...
Votes: +0
the math is simple take 71,194.04 multiplied by .20 and you get 14,358.20
report abuse
vote down
vote up
Cynthia B
Votes: +0
$14,238.21
71791.04 x .2 = $14,238.208
report abuse
vote down
vote up
Samantha
Votes: +0
14358.21... and all u have to do is find a calculator and multipy by .2