1. Jose earns $150,000 per year. He will pay 25% in federal income taxes. How much will his taxes be? How much will he take home?
2. Cynthia earns $240,000 per year. What is her gross monthly income? If her employer deducts 20% each month for taxes and FICA, how much will she take home each month as her net monthly income?
3. Nathan earns $100,000 per year. His state income taxes are 3% of his total gross income. His federal income taxes are 12% of his total gros income, and his FICA deductions and other deductions are 6.2%. What will his net yearly income be?
