Question

His annual salary is $91 520 and he has $7300 in allowable tax deductions.

What is his taxable income?

Taxable income = $

Answer 1

$84,220

Explanation:

To calculate the taxable income, we need to subtract the allowable tax deductions from the annual salary:

Taxable income = Annual salary - Allowable tax deductions

Taxable income = $91,520 - $7,300

Taxable income = $84,220

Therefore, his taxable income is $84,220.