UNIT 2: CAREERS AND PLANNINGSection 2: Understanding what you make

I CAN: Explain my current (or future) paycheck

FILL THIS OUT CORRECTLY OR… PAY

Exemptions: a reason to NOT have taxes taken out of your pay

Can impact how much you owe or get back at tax time

WHY IS YOUR CHECK SO MUCH LESS THAN YOU EXPECTED? Your paycheck is full of deductions

(including elective payroll deductions): money taken out for other purposes (taxes, insurance, etc)

SS is often deducted here too

DISPOSABLE INCOME Total salary- TaxesDisposable income

*Could be different from net pay depending on any elective deductions you choose to include in your paycheck

I CAN: Explain my current (or future) paycheck

I can prove this by completing Activities 3.7 and 3.8