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Showing posts from June, 2015

Broadus 4th of July Events Schedule

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Wishing you all a safe and happy Independence Day!

Bring on the rain!

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This Day in History - The Statue of Liberty Arrives in New York Harbor

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On this day (June 17) in 1885, the dismantled State of Liberty, a gift of friendship from the people of France to the people of America, arrives in New York Harbor after being shipped across the Atlantic Ocean in 350 individual pieces packed in more than 200 cases. The copper and iron statue, which was reassembled and dedicated the following year in a ceremony presided over by U.S. President Grover Cleveland, became known around the world as an enduring symbol of freedom and democracy. Intended to commemorate the American Revolution and a century of friendship between the U.S. and France, the statue was designed by French sculptor Frederic-Auguste Bartholdi (who modeled it after his own mother), with assistance from engineer Gustave Eiffel, who later developed the iconic tower in Paris bearing his name. The statue was initially scheduled to be finished by 1876, the 100th anniversary of America’s Declaration of Independence; however, fundraising efforts, which included auctio

How Wages Work (Part 3)

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Taxes Say you just started a new job and got your first paycheck. You expected a certain amount, but this check is much smaller. What happened? Who is this FICA person, and why is he getting some of your money? Employers are required by law to withhold some money from each paycheck in order to pay for certain taxes. These withholdings help pay for things like income tax, Social Security and Medicare.   Income Tax Employers must withhold federal and state income taxes for employees. The amount withheld is based on a W-4 form, filled out by the employee at the start of employment, that states his or her filing status (single or married) and number of personal allowances claimed, such as the number of dependents.   Social Security Tax Employers withhold 6.2 percent of the maximum taxable wage base, or the maximum dollar amount subject to Social Security taxes. The employer also contributes this same amount out of pocket to Social Security on your behalf. For example, let’s say you earn

How Wages Work ( Part 2)

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Types of Pay Sometimes getting paid isn’t as simple as drawing a salary or getting paid by the hour. Let’s look at some of the different types of pay.   Minimum Wage Minimum wage is a frequent topic of debate. In 2015, the federal minimum wage stands at $7.25 an hour. For the average fulltime worker, that’s only $14,500 a year, which can make supporting oneself -- much less a family -- very difficult, especially in big cities where property values and rents are high. The inflation adjusted value of this minimum wage is the lowest amount in 50 years. Many states do have a minimum wage greater than the federal minimum. Montana has a minimum wage of $8.05.   Minimum wage laws still apply to salary workers. A salary employee’s regular rate cannot be less than the minimum wage and is calculated by dividing the salary by the number of hours for which the salary compensates. Here’s an example: Salary: $25,000/year Hours worked: 40 hours a week * 52 weeks a year = 2080 hours Regular rate