Earning Income by Bitsy Kemper

By Bitsy Kemper

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Follow along with fifth graders as they figure out how to earn enough money to go on a field trip. htm Check out ten clever ways to earn some spending money, from crafting to inventions. This site offers beginning steps and suggested age ranges for each idea. org/itsmylife/money/making This website talks about the ways kids can earn income. It also features stories from real-life kids and talks about the ways they have earned money. htm This game gives you the chance to try running your own lemonade stand.

These are tax brackets. Each bracket covers certain percentages, or rates. In 2013, the rate was 10 percent for people making up to $8,925 per year. This was the lowest tax bracket. If you made between $8,926 and $36,250, you move into the next bracket. This higher bracket is taxed at 15 percent. MAN Y PEOP LE FILL OUT A FORM CALLED A 1040 TO PAY THE IR TAX ES. 31 Some people’s taxes get very complicated. They may hire an accountant to help them fill out their paperwork. The percentages apply only to their own brackets.

6 percent for any income over $400,000. Work income is taxed differently than investment income. Usually, investment income is taxed less. 32 AVERAGE ANNUAL INCOMES $73,090 Architect Carpenter $39,940 Cashier $18,970 $220,942 Doctor Farmer $69,300 Firefighter $42,250 Occupation Housekeeper $19,570 Librarian $55,370 Postal worker $53,100 Pilot Restaurant server Kid’s allowance $0 $98,410 $18,540 $780 $50 $100 $150 $200 Average annual income (in thousands of dollars) This graph shows average incomes in the United States for different jobs in 2012.

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