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Karl makes exactly $65000 a year as an electrician. If his federal income tax is 18% and his social security is 7%. What is Karls net income to base his budget on?

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Answer:  Karl's net income is 48,750

This does not count state and local taxes, but those are not part of this question.

Step-by-step explanation:

Multiply 65000 × 0.18 to find the federal income tax:  $11,700

Multiply 65000 × 0.07 to find the social security tax:    $4550

Add those together to find the total tax to be subtracted from his gross income:

11700 + 4550 = 16250

$65,000 - $16,250 = $48,750

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