Pay

The GOVERNMENT takes approximately 28% of your income in taxes.
[|Why do we pay taxes?] Download this excel spreadsheet

1. Create an excel spreadsheet to calculate how much money a person would receive MONTHLY if they make $30,000, $40,000, $50,000. (This amount is called the GROSS INCOME)
=== 2. Make a GRAPH showing the total monthly income, total taxes and ACTUAL monthly pay that a person would receive making the amounts above. (This amount is called the NET PAY, remember to hold down the CTRL key) ===


 * =Description= || =‍Tax Percentage= ||  || =$30,000= || =$40,000= || =$50,000= ||
 * ^  || Enter as decimals ||^   ||^   ||^   ||^   ||
 * Gross Pay Per HOUR ||  ||   || $14.42 || $19.23 || $24.04 ||
 * ‍Social Security || 0.062 ||  ||   ||   ||   ||
 * ‍Federal || 0.12 ||  ||   ||   ||   ||
 * ‍Medicare || 0.0145 ||  ||   ||   ||   ||
 * ‍Unemployment || 0.03 ||  ||   ||   ||   ||
 * ‍PA Tax || 0.0307 ||  ||   ||   ||   ||
 * ‍Local Tax || 0.01 ||  ||   ||   ||   ||
 * Total Taxes ||  ||   ||   ||   ||   ||
 * Net Pay per year (Yearly income - total taxes) ||  ||   ||   ||   ||   ||
 * Monthly Pay (How do you calculate this?) ||  ||   ||   ||   ||   ||
 * NET Pay per HOUR: ||  ||   ||   ||   ||   ||
 * NET Pay per HOUR: ||  ||   ||   ||   ||   ||
 * NET Pay per HOUR: ||  ||   ||   ||   ||   ||

Federal Taxes Online