4
QuizMultiple Choice

Paying Taxes — Quiz

Question 4 • Personal Finance

Marco makes $65,000 a year as a graphic designer. He makes a charitable donation of $1,000 each year. He also has $5,000 of business-related expenses, including travel and materials. What is Marco’s taxable income?

Answer
A
$64,000
B
$71,000
C
$65,000
D
$59,000

Explanation

Subtract Marco’s deductible charitable donation and business-related expenses from his $65,000 income: $65,000 − $1,000 − $5,000 = $59,000. His taxable income is $59,000, which is choice D.

AI-written and checked against the verified answer.

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