Karen has a gross income of $75,000 for the year 2022. She is a resident of a
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Karen has a gross income of $75,000 for the year 2022. She is a resident of a state that has a flat income tax rate of 5%. However, Karen is eligible for a tax credit of $1,500 for the year. Additionally, Karen has the following deductions for the year:
- Mortgage interest: $7,000
- Property taxes: $2,500
- Charitable contributions: $1,000
- Medical expenses: $3,000
What is Karen's net income after taxes for the year 2022?
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