For this step you will need to do a couple things. First, explore and comprehend the key vocabulary below. I have included a few videos to help you understand these concepts. Second, you will need to research and decide on your health insurance plan. Third, determine how much money will be taken our of your check for taxes. When you finish this step you will know your net monthly income.
Watch the following video to understand the difference between gross and net pay.
Here is a short video to help you understand the concept of Insurance.
insurance from Beth Foster on Vimeo.
Health Insurance Plans- click on the link below for information regarding plans.
medical_insurance_plans.docx
Federal Tax Information
Your yearly gross income is: The Tax is:
not over $11, 325 10% of the taxable income
over $11,325 but not over $36,150 15% of the taxable income
over $36,150 but not over $91,600 25% of the taxable income
medical_insurance_plans.docx
Federal Tax Information
Your yearly gross income is: The Tax is:
not over $11, 325 10% of the taxable income
over $11,325 but not over $36,150 15% of the taxable income
over $36,150 but not over $91,600 25% of the taxable income