Character Build - 11.1 Part 1
Hey! Today, you'll be creating a pay stub using an online template, based on the information you’ve already gathered about your character’s program and income details.
Start by filling in basic personal info:
- Name, address, tax filing status, payment date, pay period, and whether they’re paid weekly, bi-weekly, or monthly.
Next, input the gross pay for this period, and also the Year-to-Date (YTD) gross pay—that is, everything earned so far this year.
Now, find the effective federal tax rate your character pays, as well as the state tax rate and FICA tax rate. Use your research or assumptions for each.
Then, enter the deductions your character has—like taxes, health insurance, retirement contributions, or others. Also, include time off details:
- Total vacation and personal days allowed and how many have been used so far.
Once you've filled in all these figures, calculate and enter the totals:
- Gross pay for this period and the YTD
- Deductions for this period and YTD
- Taxes paid this period and YTD
- And finally, your net pay (what your character actually takes home) for this period and YTD.
This activity gives you a real-world look at how payroll works and how taxes and deductions affect take-home pay. Take your time filling in all the details carefully, and you’ll have a clear picture of your character’s paycheck. Ready? Let’s build that pay stub!