1 / 8

What Happened to My Paycheck?

What Happened to My Paycheck?. Lowery Financial Literacy Unit 8 th Grade FACS. Health Insurance. Medical, Dental and Vision 6,250 per year. Adjusted Taxable Income. Amount you are taxed on: Annual Salary – Health Insurance

hesper
Download Presentation

What Happened to My Paycheck?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What Happened to My Paycheck? Lowery Financial Literacy Unit 8th Grade FACS

  2. Health Insurance • Medical, Dental and Vision • 6,250 per year

  3. Adjusted Taxable Income • Amount you are taxed on: • Annual Salary – Health Insurance • Other items such as investments for retirement and other deductions could be subtracted but we will not address those.

  4. Federal Tax • Multiply your adjusted taxable income by 7% or .07. • This is an average and will adjust by income level and number of dependants.

  5. State Income Tax • Adjusted Taxable Income multiply by 3% or .03. • Varies according to income level and number of dependants.

  6. County Tax • Multiply your adjusted taxable income by .03 • Used to pay for county development

  7. Medicare Insurance • 2% of your adjusted taxable income. • Health insurance for our American population over 65.

  8. OASDI • 6% of your adjusted taxable income. • Old age, survivors, and disability insurance.

More Related