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UsArmy3947:
A little help in Economics please
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UsArmy3947:
You earn $50,000 per year, and the federal tax rate is 10 percent. Your gross income is A. $5,000 B. $10,000 C. $45,000 D. $50,000
UsArmy3947:
I know 50,000 - 10 % = 45,000
UsArmy3947:
But sure if it's A or C
UsArmy3947:
@Pixel
Marziman:
No, the answer is D.
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UsArmy3947:
The gross income is the total?
Marziman:
Gross income = total income before taxes and whatnot.
UsArmy3947:
Ah... Thanks bro
Marziman:
Mhm.
UsArmy3947:
@ccowart22 thank you also for your help
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UsArmy3947:
Wasn't sure what gross income meant
Marziman:
45k would be your "net income"
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