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Mathematics, 22.10.2019 23:30 monsterwins5001
Veronica is self employed. in one year, veronica generates a gross income of $65,500. when calculating her taxes, veronica is allowed to deduct up to $2,500 in expenses from her gross income (to give the 'operating income'), but if her expenses exceed $2,500 then any surplus must be deducted against her income after tax. in this calendar year, veronica's total expenses were $5,500. the tax system is such that she must pay 15% tax on any operating income up to $25,000 and then 30% on any operating income over $25,000. calculate veronica's net profit, that is, the amount she earns after all taxes and expenses.
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Veronica is self employed. in one year, veronica generates a gross income of $65,500. when calculati...
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