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Marco makes $65,000 a year as a graphic designer. He makes a charitable donation of $1,000 each year. He also has $5,000 of business-related expenses, including travel and materials. What is Marco’s taxable income? $71,000 $65,000 $64,000 $59,000

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caco23dahi
The correct answer is $59,000. 
Lanuel

Based on the calculations, Marco’s taxable income is equal to: D. $59,000.

What is taxation?

Taxation refers to the involuntary but compulsory fees that are levied by the government on both individuals or business organizations in a particular country, so as to generate revenues.

Given the following data:

  • Total income = $65,000.
  • Charitable donation = $1,000 per year.
  • Business-related expenses = $5,000.

Marco’s taxable income would be calculated as follows:

Taxable income = 65,000 - (1,000 + 5,000)

Taxable income = 65,000 - 6,000

Taxable income = $59,000.

Read more on tax here: https://brainly.com/question/25783927

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