Question

Scenario: carl has just received his weekly check from his after-school job. in his budget, he did not plan for withholdings. now that he has received his check, he has been reminded that taxes will be withheld. he realizes that he needs to return to his budget to make some changes. based on this information, which is the first change should carl make to his monthly budget? a greater gross income a greater amount for discretionary spending a lower net income

Answer 1

a lower net income

Step-by-step explanation:

Answer 2

The answer to the question is (C) a lower net income.

Tax withholding refers to a type of tax that is taken from the employee’s wage by the employer for tax payment to the government. It is a type of income tax applied in the United States. There are two types of tax withholding, those that are levied on the people who have residency in the United States and those that are levied on the people who are categorized as nonresidents. Since Carl forgot to account for the tax withholding, the change that would occur in his budget is to his net income, which would be lower.