Evaluate Income Earnings Tutorial

Why should you examine your earnings?

Doing an evaluation your income earnings can help you understand why your take home pay is
a lot less than the money you make.

What are some things that is taking out of your paycheck

1)  FICA (Federal Insurance Contribution Act)

2)  Federal Income Taxes (This money goes to the
     federal government for the taxes on your
     earnings.

3)  State Withholdings  (the amount of taxes
     the state you live in will tax your earnings

4)  Medicare

Reducing your withholdings

How to reduce Your withholdings

Go the www.IRS.gov Website and use their Withholdings Calculator

Then ask your employer for a new W-$ Form, employees Withholding Allowance Certificate.

Fill the form out according to the results to the Withholdings Calculator.

Return the form back to the employer.

Now you should bring home more money the next time you get paid.

Wow another simple way to save more of your money.

Click Next Page to come to next tutorial

Next Tutorial - Watch Banking Fees and Charges












































HomeSitemapFinancial Literacy GameDisclaimer


If you enjoyed this, share it.  Thanks for visiting my website.
HomeAboutBlogContactGiveawaysYoutube

                       Hi, I'm Abbie.
                       Your financial 
                       education tutor.

                    Welcome!