Job Readiness
Classes:
Introduction > Take the Test > Employability Skills >Important Work Vocabulary Words > Job Search Techniques > Once You Are Hired
Managing Wages Effectively
Once you have a job, your employer should pay you a fair salary on a weekly, bi-monthly or monthly basis. Most employers are also required to give you certain benefits, including paying a portion of your social security tax; deducting your federal and state taxes automatically from your paycheck; providing unemployment insurance, health insurance and worker's compensation; and allowing for sick leave, vacation, and holidays.
Different employers offer different benefits, but some benefits are required of all employers (such as paying minimum wage). If you have found a job and have questions about your benefits and salary, the staff at MTSTCIL can help answer your questions.
It is important to remember that while your employer owes you a fair and regular paycheck, you owe the government a portion of that paycheck in taxes. Employers will take your local, state, and federal taxes out of each paycheck and send them to the government along with a statement at the end of the year (called a W-2) that says how much you have earned for the year and how much you have paid in taxes.
Your employer is also required by law to give you a copy of your W-2, but it is your responsibility to file a tax return with the Internal Revenue Service. This tax return is due by April 15 of each year and on it, you need to report all the money you have earned for the year. If you have more questions about taxes, filing tax returns, or wages, contact staff at MTSTCIL.
Learn more about your income, wages, and managing your money from the Managing Your Money course. Read the whole course, or jump to the sections below to learn more about:
- How to figure out your income
- Salary and benefits
- Understanding your paycheck
- How to handle/bank your paycheck
Next: Take the Test again, or return to the Skills Training home page.
