Congratulations! You’re

hired!

Now what????

Paper Work must be completed when you accept a new job.

The W-4 form must be filled

out by all U.S. employees, so that the employer knows how much to withhold from the employee's paycheck for federal income taxes. The W-4 form includes:

Marital Status

Number of allowances

Additional deduction amounts

The I-9 Form provides documentation that

new hires are authorized to work in

the U.S.

Be prepared to show valid picture identification:• driver’s license• passport •green card

AND your social security card

It’s time to pay the tax man!

You must pay your taxes in full by April 15th of every

year

The money you make before you pay taxes.

Ex: An experienced registered nurse makes an annual gross income of $62,450 a year (www.bls.gov)

But, you don’t get to keep all the money!

Gross Income

Federal Taxes

a percentage of your income is paid to the

federal government

To determine how much

money you owe the federal

government you must use the

tax table

The 1040 EZ form is a document that most tax payers fill out and file with the government to determine if they owe the government or if the government owes them a refund.You must file

a new tax form with the government annually!

FICAFICA is used to fund Social

Security and Medicare

Translation: Federal Insurance Contribution Act

STATE INCOME TAXYou must pay a portion of your income to the state in which you residePA’s income tax

is 3.07%.

Local Income Taxa percentage of your income is also paid to the municipality, city or township in which you reside.

1%

Taxes are paid!The money you take home after you’ve paid your taxes is

called Net Income

Most people pay their taxes over the course of

one calendar year.

http://www.wsu.edu/payroll/flash/ESTutorial.html

Pay Stub Tutorial

By January 31st of every year, your employer must mail you

your W-2 Forms.The W-2 form provides you with an accounting of the taxes that have been with held from your paycheck over the course of the calendar year.

You need the information on the W-2 form to determine is you owe the government money or if they owe you a refund.

If you are getting a tax refund, it

means you have OVERPAID the

government this year.

If you owe the government money it is because you have not had

enough money taken out of

your pay check throughout the

year.

What questions do you have?