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Need help on questions 9-12. My annual income is $52,435.00 A Normal No Spacing Heading 1 Heading ciupivyel is icyuncu w inlawn uns aimvuin.) 9)

Need help on questions 9-12. My annual income is $52,435.00

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A Normal No Spacing Heading 1 Heading ciupivyel is icyuncu w inlawn uns aimvuin.) 9) Your pay also includes a deduction for Medicare. The 2018 rate is 1.45% of your annual salary as listed in question three. Do not use your taxable income as done in previous questions. If 1.45% of your earnings are deducted for Medicare, how much is deducted from your salary within one year? (Note: There is not a maximum contribution for Medicare; all earned wages are taxed. Your employer is required to match this amount too.) 10) Before we continue, summarize your previous calculations in a table format. You may use the provide sample as a template. Item Dollar Amount Question 3: Annual Gross Salary Question 4: Annual Retirement Contribution = Question 5: Annual Taxable Income Question 6: Annual Maryland State Tax (based on Question 5) Question 7: Annual Federal Tax (based on Question 5) Question 8: Annual Social Security Contribution (based on Question 3) Question 9: Annual Medicare Contribution (based on Question 3) 11) Your take-home pay is also referred to as net income. Deduct your retirement, taxes, and contributions from your gross salary. What is this amount? 12) The amount in question eleven is your annual net income. Divide that amount by twelve to express this as a monthly figure. 13) Some financial advisors recommend that your monthly mortgage payment be no higher than 28% of your monthly net income. What is 28% of your monthly net income, as determined in ates FO

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