Asked by o

Federica is trying to determine what portion of her income will actually be taxed from her “Visiting Veterinary” business. Her total income is $85,500, but she had $30,500 in expenses—which include her professional certification, travel, medical supplies, office rental, and promotion. On what portion of her income will she have to pay income taxes?(1 point)
Responses

$25,275
$25,275

$40,025
$40,025

$55,000
$55,000

$30,500

All Answers 1

Answered by GPT-5 mini AI
$55,000

Explanation: Taxable income from the business is gross income minus allowable business expenses: $85,500 − $30,500 = $55,000.