Question

Eli's gross income as a painter is $30,000 per year, which places him in the 15% approximate tax bracket. How much does he pay in taxes for the year?

Answer 1

Answer: $4,500

Explanation: 1% of $30,000 would be $300. If you multiply that by 15, you get $4,500, so 15% of 30,000 is 4,500.