Taxes, Salary, Growth and Money

Choices
Part 1: What are Taxes
Answer the following questions and fill out the tables below.
1. What are Federal Taxes?
a. It is tax deducted by the federal government.
2. What are State Taxes?
a. It is Taxes deducted by the state government.
3. Why do we have to pay taxes?
a. To pay for federal and state projects.
4. What is the 16th amendment to the Constitution?
5. What is Gross Income/Salary?
a. This is your pay before tax deduction.
6. What is Net Income?
a. This is your pay after tax deduction.
Part 2: Salary and Taxes
1. Go to your schoolloop Dropbox open your 3 Occupations and pick your two favorite
occupations (No pro Athlete, singer, dancer etc) you want to pursue and Fill in the 1 and
2 in the chart below.
2. Go to the http://www.irs.com/articles/2015-federal-tax-rates-personal-exemptions-andstandard-deductions and find both Occupations 2015 Federal Tax Rate and fill I #3 in
the chart below.
3. Go to https://www.ftb.ca.gov/forms/2015_California_Tax_Rates_and_Exemptions.shtml
and find both Occupations 2015 State Tax Rate and fill in #4 in the chart below.

1. CAcareerzone
Occupation

2. Lowest
Gross
Salary

3. Federal
Deduction
%

4. State 5. Annua 6. Month

Deduc
l Net
ly Net
tion %
Salary
salary

Anesthesiologist

$220,000

33.5%

9.5%

$134,134

$11,177

Epidemiologist

$220,000

33.5%

9.5%

$134,134

$11,177

Part 3: Occupation Projections 2012-2022

1. Look up the top 5 highest, fastest and New Jobs in the U.S and list them
below

1
2
3
4
5

Orthodontist
Dentist
Computer System Analyst
Nurse Anesthetist
Physician Assistant

2%
2%
2%
1.3%
1%

1,500
23,300
118,600
7,400
28,700

Taxes, Salary, Growth and Money

Choices

2. Are any of your occupations in any of these categories?

a. No, none of my occupation are on here, even though there is a nurse
anesthesiologist, they are different from actual anesthesiologist.

Part 4: Make Money Choices

1. Go to cacareerzone.org and login.
2. Go to GROW and Select Make Money Choices
3. Select PICK YOUR SALARY
4. In the Box EXPECTED Gross SALARY put your Gross Salary in from the
chart above. Make sure you do NOT put in your Annual Salary.
Expenses
Cost
Housing Expense
$1418
Utilities Expense
$220
Food Expense
$150
Entertainment
$40
Expense
Clothing Expense
$200
Transportation
$350
Expense
Health Care
$401
Expense
Education Student
$96
Loan
Savings
$287
Investment
Other Expenses
Total expenses $8,911
Total Yearly
Expenses
Monthly Leftover
Money:
Yearly Leftover
Money
Monthly Savings +
Leftover Money
Yearly Savings +
Leftover Money

$106,932
$9,422
$113,064
$113,064
$113,064

What did you choose

Rent an apartment
Internet, Cable Television, Gas, electric, etc
Simple food
I dont go out often
Buying clothes for work
Used compact car
I will pay for my own
State school with financial aid.
Save 10%

Taxes, Salary, Growth and Money

Choices