13. Chelsea worked her way through college earning $15,000 per year. After graduation, her first job pays $30,000. The total dollar amount Chelsea will have to pay in Federal Income taxes in her new job will:
a.) Double, at least, from when she was in college. Although this is the correct answer, taxes offer numerous ambiguities that could play in her favor. Suppose she heeded the advice of all those financial professionals and socked away as much as she could in her 401(k). Her tax bill would not double in that instance. She should explore all of the nuances of her tax bill before she files her first return as a graduate. Only then will she discover how to manage her taxes, not paying a dime more than she needs to pay. b.) Go up a little from when she was in college.
c.) Stay the same as when she was in college.
d.) Be lower than when she was in college.
The Blue Money Report
Financial Commentary covering a wide range of topics concerning money, investing, and how it effects the average investor and their financial health.
It is the World of Money and Investing Explained.
Our Publication
If you are interested in providing your readers with our syndicated column, you can request it here
