Personal Finance – 5/08/17

I.   Bellwork

Questions & Answers

  1. What is the Social Security Tax rate?
  2. What is the Medicare Tax rate?
  3. 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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