Boris is a web developer. His annual gross salary is $45,000. From this, he must pay social
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Boris is a web developer. His annual gross salary is $45,000. From this, he must pay social security (calculated as 10% of his gross pay) plus income tax (on the gross pay before the social security deduction).
There is a progressive tax system for calculating income tax, where the first $10,000 is tax free, and anything above $10,000 is taxed at 25%.
What is his take home pay? Round your answer to the nearest dollar.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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