Question

Tori is a freelance photographer and her net earnings were 80,000 in 2019. Calculate her payroll taxes for the year

Answer 1

Answer: $12,240

Explanation:

Assuming this is using accurate taxing numbers from a 1099 form in 2019, up to $143,000 you will be taxed 15.3%.

We can then use this number by first converting it to a decimal by diving the percent by 100:

`(15.3)/(100) = .153`

You can then multiply the net earning by this value to find the portion being paid in taxes:

`.153 * 80,000 = 12240`

Hope this helps