Question

jim makes $80,000 per year in gross income and must pay a required deduction of 30% in income tax ( federal,state,and local combined) he deducts no money for retirement savings.

Answer 1

he pays 24,00 and he is left with 56000

Explanation:

100% = 80000

30% = X

100%X= 2400000

2400000/100= 24,000

80,000-24,000= 56,000