Jobs

Activity 1 Students may select a job that they believe they would like to do when they finish their education and provide a job description. How much education do you expect to have before you get your first full time job? For what company would you like to work? If you expect to work after four successful years of college, your annual income will be **$37,000**. If you expect to go to work after high school with two years of technical/community college training, your annual income will be **$26,000**. If you expect to go to work after high school with no additional education/training, your annual income will be **$15,000**. Each student will be expected to compute the amount of federal taxes, state taxes and FICA taxes to be subtracted from the gross pay to arrive at the net pay (see the “Computation Chart). Students will also be expected to investigate to find out //if the job will provide health// //insurance and/or life insurance// or if they will have to pay for these from their own pay check. If you cannot provide verification that your job will cover your health insurance, you must include this in the insurance section of this project. (SOL.GOVT. 15.a, 16c, 17)

** Requirements: **
 * Describe your choice of a career.
 * Note resources used to obtain information about this specific career.
 * Complete a sample copy of a W4 form (www.irs.gov) and the state VA4 form (www.tax.virginia.gov). See the links below.

Resources * Here are some excellent resources that you may use to research your chosen profession*
 * US Dept of Labor—BLS—Occupational Outlook Handbook: []
 * US Dept. of Labor--BLS—What interests you?: []
 * US Dept. of Labor--BLS’s Career Guide to Industries: []
 * Collegboard.com: Majors & Career Central: []
 * Quintessential Careers: []
 * PayCheckCity: web based paycheck calculator: @http://www.paycheckcity.com/calculator/netpay/us/virginia/calculator.html

Helpful Links
If you are unsure of what career you want, take the career test on Career Path. Or check out the information in Virginia View.
 * Virginia View
 * Career Path
 * Occupational Outlook Handbook
 * Collegeboard Majors and Careers

W-4 Download

 * W-4

Computation Chart

 * FICA ** tax is 6.2% of monthly earnings and **Medicare** tax is 1.45% of monthly earnings.
 * Federal ** **Taxes**- claiming **one**- over $30,000 annual=11%, under $29,999=9%, and under $20,000=5% for this project.
 * State ** **Taxes**-over $30,000 annual=4%, under $29,999=3%, under $20,000=2%