Explore BrainMass

Explore BrainMass

    Income calculation for taxation

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Calculate the tax you would save by contributing 6% of your income to an IRA if your income was $135,000 gross pay and $107,000 net.

    © BrainMass Inc. brainmass.com June 3, 2020, 7:20 pm ad1c9bdddf

    Solution Preview

    We assume that you contribute 6% of your gross pay to the IRA. This means that you contribute 6% of $135,000 that is ...

    Solution Summary

    This solution gives you a detailed discussion on Income calculation for taxation.