Personal Finance – 5/09/17

I.  Bellwork

A.   Show your Work

1. Nour’s previous year-to-date gross wages are $113,000, her current wages are $1,200.  Determine her current year-to-date gross wages.
2. How much of Nour’s current wages would be taxable for Social Security?
3. What would be the Social Security Tax amount based upon the wages?

II.   Objectives:

Content Obj.

• Determine FICA, Federal  and State tax withheld from wages for weekly, bi-weekly, semi-monthly, and  monthly pay periods based upon gross wages and exemptions

• analyze transactions and make record payments

Lang Obj.

• explain how to determine withholding taxes given exemptions, marital status, and pay period, and wages

III.Notebook- Determining Current Year Accumulated Wages

IV.   Classwork:

• 2nd hour Review Employment Laws
• Questions about Review
• Banzai

IV.  Withholding Test on iLearn (30 minutes)

Personal Finance W2017