Income

Ready money is Aladdin’s lamp. – Lord Byron

At the end of this workshop series, students will be able to:

  • Distinguish between several income sources (i.e., wages, salaries, tips, interest, dividends) and their respective tax liabilities.
  • Explain how education, career choice, and economic conditions affect one’s future earning potential.
  • Determine median compensation levels for any vocation of interest using a variety of informational sources.
  • Explain how State and Federal taxes—which are calculated based on information requested by employers on IRS form W-4—determine the difference between net and gross pay.