Let's assume you budget 30% of your gross income for rent. Let's assume your Federal Income Tax is taxed at a 22% rate. We know that Social Security Tax is 6.2% of your gross income. We know that Medicare Tax is 1.45% of your gross income. a) What percentage of your gross pay do you have left after tax and rent?
b ) Assuming your monthly gross income is $4000.00 . After your budget for rent and tax how much money do you have left?