You recently landed the job of a lifetime! Your gross annual salary is $125,000. Before taxes,...

 

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You recently landed the job of a lifetime! Your gross annual salary is $125,000. Before taxes, $120 is taken out for an HSA (Health Savings Account) each paycheck, followed by medical insurance, which is 3.5%. Taxes (Federal, Social Security, and Medicare) are then taken out of your pay. You currently have 3 roommates, with whom you split rent and bills on a $2275 per month townhouse where utilities (gas, water, electric, cable. etc) total another $735. You have an outstanding loan that costs you $250 per month. **Assume there are 2 pay periods (4 weeks) in a month and that you are filing taxes in April 2022. 1. a. What is your taxable income? (10 points) b. How much is taken out ANNUALLY for Federal Taxes? Social Security? Medicare? (10 points) How much money do you have left over at the end of each month after these deductions C. and expenses are removed? (10 points) You recently landed the job of a lifetime! Your gross annual salary is $125,000. Before taxes, $120 is taken out for an HSA (Health Savings Account) each paycheck, followed by medical insurance, which is 3.5%. Taxes (Federal, Social Security, and Medicare) are then taken out of your pay. You currently have 3 roommates, with whom you split rent and bills on a $2275 per month townhouse where utilities (gas, water, electric, cable. etc) total another $735. You have an outstanding loan that costs you $250 per month. **Assume there are 2 pay periods (4 weeks) in a month and that you are filing taxes in April 2022. 1. a. What is your taxable income? (10 points) b. How much is taken out ANNUALLY for Federal Taxes? Social Security? Medicare? (10 points) How much money do you have left over at the end of each month after these deductions C. and expenses are removed? (10 points)