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OpenStudy (rebelsensations):
marketing executive earns an annual salary of $78,300, and she contributes $6500 per year to her 401(k) plan. If she has a required deduction for income taxes (federal, state, and local combined) of 27% of pretax income, how much is withheld in income taxes per year?
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OpenStudy (retireed):
From GOOGLE..... Pretax Income An individual's total income before he/she pays any income tax or other tax, but after he/she takes deductions. For example, suppose one's salary is $90,000. If the person takes $10,000 in tax deductions, his/her pretax income is only $80,000.
OpenStudy (retireed):
So how much is the marketing executive's pretax income?
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