
Define gross income and net income, then analyze a pay stub to distinguish gross from net earnings and explain why taxes and deductions apply.
Engage with the instructor's additional information, including insights from a licensed real estate agent on buying and selling houses in America for international students.
Compare gross income to net income to see earnings after mandatory deductions like taxes and health or vision insurance, revealing what you actually receive after deposit.
Analyze a real paystub to distinguish gross earnings from net income, explain year-to-date deductions, and identify mandatory taxes such as Social Security, Medicare, and federal tax along with voluntary deductions.
Understand how employers withhold taxes from paychecks and how annual tax assessments decide if you owe more or receive a refund, plus the difference between gross and net income.
Understand how debit cards pull funds from your checking account for everyday purchases and online payments, and learn the basics of checks and ATMs.
When a person receives their first paystub, it can be a little confusing. Paystubs tend to have a lot of information and many different sections that may be a little overwhelming at first. When I received my first paystub, I was expecting to receive an amount and was very confused when I did not get it. The reason why I did not receive the expected amount is because I was not considering deductions, such as taxes. It is very important to understand the difference between gross and net income.
The goal of this course is to help you understand the different sections of a paystub, understand the difference between gross and net income and finally introduce you to knowledge of employment taxes in the United States. The course can be taken by anyone but the course is specifically geared towards high school students, teens, youth and international students.
Lastly, I am a licensed real estate agent & a lot of the international students that take my courses end up coming to America. If you are looking to buy or sell a home in the United States, please reach out to me so I can help guide you in the buying/selling process!
I'll see you inside!