If I receive an additional $300 for my business and earn more than $600 in total, I would need to give 10% of my earnings above $600 to my parents. Let's consider a few scenarios:
Scenario 1:
If my total earnings are less than or equal to $600, I would not owe anything to my parents. For example, if I make $500, I keep the full amount without paying anything to my parents.
Scenario 2:
If my total earnings exceed $600, I would need to calculate the amount owed to my parents. Let's say I earn $650 in total. To determine the amount owed, we subtract $600 from $650, which gives us $50. Then, we calculate 10% of $50, which is $5. Therefore, I would owe $5 to my parents in this scenario.
In summary, if I make more than $600, I would owe 10% of the earnings above $600 to my parents.
Suppose they want to give you an additional $300 to put toward your business. However, there's a catch. If you make more than $600 total, you have to give them 10% of your earnings above $600. For example, if you have earned $650, then you owe 10% of $50, or $5, to your parents.
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