Question

You earned $96,000 last year. Your effective tax rate went as follows; Federal: 16.3, FICA: 7.65, state: 4.5. If you added them all and subtracted them from your gross income what would remain of your income from last year?

Answer 1

Answer:

68688

Step-by-step explanation:

1) You add 16.3 + 7.65 + 4.5 to get 28.45%

2)You find 28.45% of 96,000 (27312)

3)You subtract 2,7312 from 96,000 to get 68688