CONSUMER MATH HELP : Your primary job’s gross income is $3,468.73/month....?
Your primary job’s gross income is $3,468.73/month. Deductions are FICA (7.65%), federal tax withholding (11.5%), and state tax withholding (7.8%). How much are your fixed expenses if they are 36% of your realized income?
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Your deductions are 7.65% , 11.5% and 7.8% . Total 26.95% .
So deduct that from your Gross . $3468.73 - 26.95% leaves you with $ 2533.91.
That's your Realized Income . $2533.91 .
So you need to find 36% of that . It's $912.20.
And that is your answer . Your fixed expenses are $ 912.20 .
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