My Career Name Date 2 nd Block (TITLE PAGE). My Career Page 4 of Livecareer.com.

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Presentation transcript:

My Career Name Date 2 nd Block (TITLE PAGE)

My Career Page 4 of Livecareer.com

Significant Points

Nature of the Work Occupational handbook

Training, Other Qualifications, and Advancement Occupational handbook

Employment Occupational handbook

Job Outlook

EarningsEarnings and WagesWages Occupational handbook

My Paycheck MY Gross Pay is $ 3, FIT is (15%) = $ State is (2.5%) = $ Social Security is (6%) = $ Medicare is (1.5%) = $ Insurance is (3.4%) = $ Total Tax = $1, My Net Pay is $ 2,551.82

My Family I am married to David I have 2 kids – A son Daniel 5 years old – A Daughter Rachel 2 years old I have a dog I live in Auburn, AL My Job is a Math Teacher

Budget Income CATEGORY Monthly Budgeted Amount Monthly Actual Amount Actual/Budget Difference INCOME: Net Monthly Salary$ 2, Bonuses $0 0 Interest Received $0 0 Miscellaneous (Gifts, garage sale…) $0 0 INCOME TOTAL:$ 2,

Budget Monthly Fixed Expenses Monthly Fixed Expenses (55%) $ 1, Mortgage/Rent (30%) $765.55$1,019 Car Payment (7%)$178.63$304 Savings (5%)$ Student Loan Miscell/Emergency (2%) $51.04 Life Insurance Car Insurance* Home insurance* Car Registration* Total Monthly Fixed Expenses

Budget Monthly Household Expenses Household Expenses (27%) $ Food/Grocery Electricity Phone Water/Sewer Heat/Gas Cable Garbage Total Household Expenses

Budget Monthly Personal Expenses Personal Spending (14%) $ Credit cards Clothing Movie/Going out Dining out Pocket money Charity/Church (10%) Recreation Pets Total Personal Spending

Budget Monthly Transportation Expenses Transportation (4%) $ Gas Parking/toll Maintenance Commuting Total Transportation

Budget Balance EXPENSES TOTAL: BALANCE: Income Minus Expenses

Checking Account Register DateCheck # DescriptionDepositWithdrawalBalance

My Dream Car 2003 Jaguar Xk8 8 cylinder convertible

2003 Jaguar XK8 Used with 54,900 miles Blue exterior/ beige leather interior V-8 Convertible 2-door Automatic Fog Lights Power everything

Jaguar prices Asking Price - $17,450 Down Payment - $1,745 Loan Amount - $15, 705 Monthly Payment – $304 Total Payment - $18,240 Total Interest - $2,535

My Home Auburn, AL

House info It is a new house located in Auburn, AL 4 Bedrooms 3 ½ baths 3 car garage Formal dining room Eat-in kitchen Bonus room in basement Back deck and big back yard

Floor Plan

Living Room with fireplace Formal Dining Room

Kitchen

Master Bath ↑ Hall Bath →

Master Bedroom Back Deck

My House Payments 1. Asking Price - $251, Down Payment - $50, Loan Amount - $201, Monthly Payment - $1, Total Amount - $366, Total Interest - $165,752

Federal Tax My Annual Salary is $42,768 before taxes My annual federal tax is $ 6, My standard deduction is $5,350 My Itemized Deduction is $ 9,450 so I will take the itemized deductions (see next slide) My Total wages: 42,768 – 9,450 = $33,318 The Tax Table says my tax is $4,581 since I am married filing separately 6, – 4,581 = $1, I overpaid the federal government $1,834.20

Itemized Deductions My itemized deductions are the following: – Kids: 2 X 2500 = $5,000 – Day Care = $3,000 – I do not own a business – Charity = $1,450 Church = $1000 Goodwill = $200 (clothes) Red Cross = $50 (food for flood victims) Salvation Army = $200 (clothes and toys)