Calculating your Income After Taxes

Discovery Resource # E-36
Resource Topic: Wealth Management
Planning Tools: Exercise
Career Phase: Discover Learn Plan Practicing/Living
Description: "Pay the Piper" and plan your budget.
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Understand how taxes impact your cash flow and how to estimate your income after taxes, so you’ll have a solid foundation when budgeting for your mortgage, car, emergency savings fund, living expenses, and investments.
  • Learn how to estimate their taxable income.
  • Learn how to calculate federal tax liabilities and state withholdings to estimate their take-home pay.