O Budget Rama I. How much Disposable Income do I have AFTER TAXES each month? Formulas your numbers child support income per year $ ??? $ $ (Assigned by Teacher) Minus 10% only -$ -$ Federal income tax - 16% (no kids) - 12% (w/ kids) State income tax (wish your folks moved to -5%(no NA AK, FL, NV or SD? They -$ kids) don’t have state income -8% (w/ taxes) kids) -$ FICA - 8% (regardless) NA Net income per year $ = $ ??? $ Total net income (left) + Net income per month (This is $ Net child support (above) = $ ??? / 12 your budget for the month. $ Your monthly expenses must not exceed your monthly net income to pass!!
Budget O Rama I. How much Disposable Income do I have AFTER TAXES each month? income per year (Assigned by Teacher) $ ??? $ $ Federal income tax - 16% (no kids) - 12% (w/ kids) -$ Minus 10% only -$ State income tax (wish your folks moved to AK, FL, NV or SD? They don’t have state income taxes) -5%(no kids) -8% (w/ kids) -$ NA FICA - 8% (regardless) -$ NA Net income per year = $ ??? $ $ Net income per month (This is your budget for the month. = $ ??? / 12 $ Total net income (left) + Net child support (above) $ Formulas your numbers child support Your monthly expenses must not exceed your monthly net income to pass!!
Budget_O_Rama1.docx