A person is on tax plan A if their income is greater than $50,000. If lower, they are on tax plan B. Identify the formula that indicates whether a person is on tax plan A or B.Options =IF("B2>50000","TAX PLAN A","TAX PLAN B") =IF(B2>50000,'TAX PLAN A','TAX PLAN B') =IF(B2>50000,TAX PLAN A,TAX PLAN B) =IF(B2>50000,"TAX PLAN A","TAX PLAN B")

A certain tax policy states that the first $50 000 of income is taxed at5% and any income above $50 000 is taxed at 12%.a) Calculate the tax on $125 000.b) Write a function that models the tax policy.

Directions: Each problems contains a Question and two Statements I and II, giving certain data. You have to select the correct answer from (A) to (D) depending on the sufficiency of the data given in the statements to answer the question. Choose A If statement I alone is sufficient to answer the question. Choose B If statement II alone is sufficient to answer the question Choose C If statements I and II together are sufficient to answer the question. Choose D if both statements I and II together are not sufficient to answer the question. Is A’s Income more than B’s?I.A’s income is 24000 per monthII. B’s income is 26000 per month

One retirement account option allows a worker to save money without paying taxes, but requires the worker to pay taxes on funds withdrawn from the account upon retirement. A second option requires the worker to pay taxes upfront, but allows the worker to withdraw funds tax-free upon retirement. Assuming that the total amount available in the worker’s retirement account at retirement is higher than the total amount contributed prior to retirement, workers can expect to pay less in taxes overall if they choose the second option.Which of the following pieces of information would be most useful in determining whether the conclusion is valid for an individual worker?(A) The amount of money the worker will contribute to the retirement plan over his or her career.(B) The amount that tax rates will increase in the future.(C) Whether or not inflation will be lower than the retirement account’s annual earnings.(D) How the worker’s tax bracket in retirement compares to his or her tax bracket while still employed. (E) The dollar value of the worker’s account upon retirement

Write a program to calculate the income tax as follows Use the below data to calculate the Income_Tax if(Tax_Income <= 0) # Output : hurray..no income tax Otherwise calculate the Income_Tax as follows if (Gross_Income <= 500000): Income_Tax = (Tax_Income * .1) if (Gross_Income <= 1000000) and (Gross_Income > 500000): Income_Tax = 25000 + ((Gross_Income - 500000)*.2) if (Gross_Income > 1000000): Income_Tax = 75000 + ((Gross_Income - 1000000) *.3) Fill the missing code in the given program to the find income tax. Ded_std, Ded_tot and Tax_Income are already defined the code Sample Input and Output 1: deduction under 80c: 50000 deduction under 80cc: 5000 deduction under HRA: 15000 deduction under Medical: 10000 gross income: 250000 gross income: 250000 total deductions: 230000 income tax: 2000.0 Sample Input and Output 2: deduction under 80c: 5000 deduction under 80cc: 2000 deduction under HRA: 1500 deduction under Medical: 500 gross income: 20000 hurray..no income tax give the programming in python

Enter a formula in cell B10 to return a value of 35000 if the Net Profit After Tax (cell B9) is greater than or equal to 470000 or 100 if it is not.