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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Easy Explanations - Help needed on defintions
I"m creating a pie chart of the breakdown of a person's check.
I need SIMPLE descriptions (for ages 8-12) to understand where the money is allocated &, briefly, the reason for the following:
Net Pay
Federal Income Tax
401K
Social Security Tax
NYS Income Tax
Medicare Tax
NY SUI/SDI Tax
Anyone bored enough to help me out?
Message edited 4/24/2007 2:55:37 PM.
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Posted 4/24/07 2:53 PM  |
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chikita315
Love
Member since 8/06 7945 total posts
Name:
M-lo
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Re: Easy Explanations - Help needed on defintions
May not be PC but:
Net Pay - what's leftover after THE MAN takes your money
Federal Income Tax - THE MAN
401K - What you need to have because THE MAN can't cover your retirement
Social Security Tax - Won't even pay for a gallon of milk in 20 years
NYS Income Tax - THE MAN PART DEUX
Medicare Tax - So you can wait for 3 hours to see a doctor
NY SUI/SDI Tax - Takes a year of appointments and appeals to get
Message edited 4/24/2007 4:08:44 PM.
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| Posted 4/24/07 3:02 PM |
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MsG
Should be working
Member since 5/05 2824 total posts
Name:
G
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Re: Easy Explanations - Help needed on defintions
Net Pay - the amount left when the following deductions are taken out
Federal Income Tax: money everyone pays to the gov't in Washington DC for things like our military, science and medical research, transportation
401K: money we voluntarily put into the bank for our retirement
Social Security Tax: money everyone pays to the gov't in DC for our retirement
NYS Income Tax: money to our state capital for things like schools, state highways, state parks
Medicare Tax: money to assist the elderly with health care costs
NY SUI/SDI Tax: money to help people who can't work if they get sick
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| Posted 4/24/07 3:14 PM |
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Kate
*****
Member since 5/05 7557 total posts
Name:
Kate
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Re: Easy Explanations - Help needed on defintions
Posted by chikita315
May not be PC but:
Net Pay - what's leftover after THE MAN takes your money
Federal Income Tax - THE MAN
401K - What you need to have because THE MAN can't cover your retirement
Social Security Tax - Won't even pay for a gallon of milk in 20 years
NYS Income Tax - THE MAN PART DEUX
Medicare Tax - So you can't wait for 3 hours to see a doctor
NY SUI/SDI Tax - Takes a year of appointments and appeals to get
 
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| Posted 4/24/07 3:19 PM |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Re: Easy Explanations - Help needed on defintions
Thanks! I think I'll have to go with MrsG's definitions.
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| Posted 4/24/07 3:54 PM |
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Daybreak
LIF Infant
Member since 10/06 184 total posts
Name:
Dawn
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Re: Easy Explanations - Help needed on defintions
Posted by chikita315
May not be PC but:
Net Pay - what's leftover after THE MAN takes your money
Federal Income Tax - THE MAN
401K - What you need to have because THE MAN can't cover your retirement
Social Security Tax - Won't even pay for a gallon of milk in 20 years
NYS Income Tax - THE MAN PART DEUX
Medicare Tax - So you can wait for 3 hours to see a doctor
NY SUI/SDI Tax - Takes a year of appointments and appeals to get
LOVE IT
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| Posted 4/24/07 5:15 PM |
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mtdr1106
junior supafly
Member since 3/06 2268 total posts
Name:
tricia
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Re: Easy Explanations - Help needed on defintions
Posted by chikita315
May not be PC but:
Net Pay - what's leftover after THE MAN takes your money
Federal Income Tax - THE MAN
401K - What you need to have because THE MAN can't cover your retirement
Social Security Tax - Won't even pay for a gallon of milk in 20 years
NYS Income Tax - THE MAN PART DEUX
Medicare Tax - So you can wait for 3 hours to see a doctor
NY SUI/SDI Tax - Takes a year of appointments and appeals to get
LOVE IT!!
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| Posted 4/24/07 5:20 PM |
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