Required (Involuntary) Deductions:
Federal Income Tax (determined by tax table)
State Income Tax (3.25% in Illinois)
FICA Taxes (Federal Insurance Contribution Act of 1935):
Social Security Taxes (6.2% from employee and 6.2% from employer)
Medicare Taxes (1.45% from employee and 1.45% from employer)
401(k):
pre-tax contributions
tax-deferred earnings
possible employer match
Insurance
health, dental, life, long-term disability
Charity
Union Dues
Dave Ramsey’s $55,000 Financial Literacy Challenge is now open! This Challenge, sponsored by Zander Insurance, is a brief online money quiz and survey and gives high school seniors a chance to win a $40,000 scholarship. Yes, you read that right—$40,000—which can be used at any college the winner wants to attend! Other prizes for underclassmen and additional scholarships for seniors are also up for grabs.
Your students can access the Challenge at https://www.daveramsey.com/
When students use this custom link, they will be included in your class performance metrics. You’ll automatically receive your class performance metrics* once the Challenge closes, and your students will also receive an individual score report via email after the Challenge ends.
Students will need to submit limited contact information so we can notify winners. This information will only be used to contact Challenge winners and will not be used in any way for future sales or marketing purposes!The Challenge ends Monday, April 25. Best of luck to your students!
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