17
QuizMultiple Choice

Paying Taxes

Question 17 • * HSA 26-27 Economics

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

Explanation

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

AI-written and checked against the verified answer.

Previous
Next