Personal Finance – 5/08/17
I. Bellwork
Questions & Answers
- What is the Social Security Tax rate?
- What is the Medicare Tax rate?
- What is the FICA Tax rate?
II Objectives:
Content Obj.
- Calculate the social security tax based upon wage limitations
- given gross wages and exemptions, determine FICA, Federal and State tax withheld from wages for weekly, bi-weekly, semi-monthly, and monthly pay periods.
Lang Obj.
- explain how to determine withholding taxes from wages
III. Withholding Test tomorrow
IV. Classwork:
- 6.1.51
- Withholding Review on iLearn (30 minutes)
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