Ashton's gross pay is $82,000. he receives tax credits of $2,000. he pays total taxes of $4,500. what are his taxable and disposable incomes? ashton's taxable income is $and his disposable income is $.

Question

Evelin Chen

Business

26 January, 10:09

Ashton's gross pay is $82,000. he receives tax credits of $2,000. he pays total taxes of $4,500. what are his taxable and disposable incomes? ashton's taxable income is $and his disposable income is $.

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Answers (2)

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Mallory Owens · Answer 1

Gross Pay refers to the money earned from work prior to deductions. Tax credits are the amount of money that can be returned to the employee.

Taxable income = $82,000 + $2000

Taxable income=$84,000

Disposable income refers to remaining after deductions of all liabilities.

Disposable income=$82,000+$2000-$4500

Disposable income=$75,500

Jamison Ferrell · Answer 2

A taxable income is the total amount of money left after being deducted by other government payments. Meanwhile, a disposable income is the accounting of income taxes in an employee's payroll. Therefore, Ashton's taxable income is, $80,000 while his disposable income is $75,500.