If your salary is $42,500 and your federal income taxes are 10% of your salary, how much money will you owe this year in federal
taxes? Assume you have no deductions.
1 answer:
I'm assuming that the salary is for the whole year. If it is not, do tell me.
Tax = 10/100 * 45000
= 4500
You owe $4500 in federal taxes.
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