Tax Worksheet

Name:        __________________________

Career:       __________________________

Starting Annual Salary (from Career Summary)       $ ___________

(Round off all numbers to whole dollars.)

Annual Social Security Tax (multiply by 0.062)        $ ___________

(Maximum SST amount is $6622)

Annual Medicare Tax (multiply by 0.0145)                $ ___________

(Stop here and fill out 1040 EZ on opposite side.)

Annual Income Tax (from 1040 EZ, line 10)              $ ___________

Total Annual Federal Taxes (SST+MT+IT)                     $ ___________

Total Tax Rate (Total Taxes / Annual Income x 100)              __________%

Monthly Income (Annual Salary divided by 12)                 $ ___________

Total Monthly Taxes (Total Annual Taxes divided by 12)   $ ___________

Disposable Monthly Income (Mo. Inc. – Mo. Taxes) $ ___________