Question

Deb Boon is single, claims 2 allowances and earns $293.23 each week. If each weekly allowance is $63.46, how much is Deb's taxable income?

Answer 1

We are asked to solve for the taxable income. Given and solution are shown below:
Allowances = $63.46 * 2 (since he claims two allowances each week)
Salary = $293.23 per week

Total income for 1 week = $ 293.23 + ($63.46 * 2)
Total income for 1 week = $420.15

In 1 year = $420.15 * 4 weeks in a month * 12 months
In 1 year =$ 20, 167.2

Taxable income is $20,167.2