Calculate Shaun's taxable professional income for the 2022/23 year. Shaun's taxable professional income is calculated by adding
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Question:
Calculate Shaun's taxable professional income for the 2022/23 year. Shaun's taxable professional income is calculated by adding his salary and coaching income, then subtracting any relevant deductions.
Salary: $120,000
Coaching income: $50,000
Total income: $170,000
Deductions: Equipment costs: $6,000
Coaching costs: $11,000
Total deductions: $17,000
Taxable professional income = Total income - Total deductions
Taxable professional income = $170,000 - $17,000
Taxable professional income = $153,000
Related Book For
Introduction to Data Mining
ISBN: 978-0321321367
1st edition
Authors: Pang Ning Tan, Michael Steinbach, Vipin Kumar
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