How to figure out gross income after the percentages have been taken out.

[CMB]

Good Afternoon,


How do you figure out your gross income after social security and medicare has been taken out ?


Thanks

CMB

 

[mmm4444bot]

You need to know the related percents. In other words, what percent of your gross is deducted for Medicare? What percent of your gross is deducted for Social Security?


Here is an example of a set-up:

If a 9% deduction from gross results in $775.32 net, then what is the gross?

(775.32) / (1 - 0.09)

The gross is $852.00

 

[CMB]

Cmb

Thank You Very Much Washington