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Worksheet 1:

What is My Take-Home Income?

Part 1

Your gross income is the amount you make before any taxes are taken out – this worksheet will figure out what your actual take-home income is after any withholdings.  Use pay stubs in conjunction with this worksheet to double-check your estimates.  Use your best judgement when estimating things like unpaid time off (and how much income you are losing in this time) for each month.  Automatic withdrawals such as wage garnishment or child support can be placed in the “Other” category.  Let’s break it down:

 

Gross Income Est. Taxes Est. Unpaid Time Off Other Est. Take-Home Income
January $ $ $ $ $
February $ $ $ $ $
March $ $ $ $ $
April $ $ $ $ $
May $ $ $ $ $
June $ $ $ $ $
July $ $ $ $ $
August $ $ $ $ $
September $ $ $ $ $
October $ $ $ $ $
November $ $ $ $ $
December $ $ $ $ $

 

Now, let’s add all these numbers up and take a look at the big picture:

 

Gross Income Est. Taxes Est. Unpaid Time Off Other Est. Take-Home Income
Annual $ $ $ $ $
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