On the back your packet: What do I budget for at age:

Slides:

Advertisements

Similar presentations

Payroll Taxes & W-4s. Why do we pay taxes? Why do we pay taxes? Roads, Operation of Government, Schools, Welfare, Police, etc… Roads, Operation of Government,

Advertisements

Employment Laws. Introduction The federal government has enacted many laws to protect workers. The Department of Labor is responsible for enforcing labor.

Tax Vocabulary. Gross Pay The amount of money you earn each pay period.

Government spending Running the US Government cost this country around $2 Trillions dollars a year. Most of that money comes from taxes and Congress determines.

Government Finances Chapter 25. The Federal Government Chapter 25 Section 1.

The Tax System Chapter 12. What Are Taxes and When Do You Have to Pay Them? Taxes are payments to local, state or national governments. They are the government’s.

 Log into Moodle and complete today’s Bell Ringer REMINDER: Today is the last day to turn in anything from this Marking Period › Be checking your grades!

Unit 03: Financial Literacy Vocabulary. Available Balance The amount available in an account for a person, business, or organization to spend. How much.

 The Federal government  collects money (revenue) and  spends money (expenditures)  The government is important in our economy.

Deficit vs. Debt Deficit: how much more Government spends than it receives in tax revenue over 1- year Debt: total amount Government owes (has borrowed.

Budget Deficit and National Debt A budget deficit exists when the federal government spends more than they are receiving in revenues within the year. When.

Part 1 Intro: Working and Earning Goal: Describe the factors that influence an individual’s income. Brainstorm…… individual skills and abilities, work.

Decisions work: career, job, wage or salary, skills, and entrepreneurship. Gross pay is before taxes and deductions and net pay is after. Education: college,

Earning an Income Review. A purposeful course of action or purpose in life that generally provides income.

Federal Tax Revenue and Spending A very basic overview Put simply, taxes are money collected by the government to finance public expenses. American workers.

CHAPTER 22 TAXES AND GOV’T SPENDING. Federal Gov’t We authorize the federal government, through the Constitution and our elected representatives in Congress,

Federal Taxing & Spending. A) Withholding 1) Government obtains your individual income tax money through withholding 2) The gov’t keeps a certain percentage.

Chapter 14 Section 3.

Standard 1 VOCABULARY.  Career – a purposeful course of action or purpose in life that generally provides income  Earned Income –money received for.

The US Federal Budget How does our Government spend its money? Where does all that money go?

What Happened To My Paycheck? TAXES. Taxes Social Security – Benefits of retired workers or disabled and dependents Medicare Tax – provide medical benefits.

FEDERAL TAX WITHHOLDINGS. HOW MUCH OF YOUR INCOME GOES TO FEDERAL TAXES? Because the United States has a progressive federal tax system, you’re going.

Understanding your Paycheck

Who is FICA?? The tax man cometh!!

HEALTH INSURANCE PLANS

Decision Making in Finance Paycheck Example

UNIT VII – Personal Financial Literacy

Personal finance unit (Don’t be a dope with your money)

Junior Achievement Here are the minor notes from the past two weeks (and this final week) All of this information can also be found in your JA workbooks.

Business math fall 2017 MRS. RUIZ-EMMONS

Take Charge Today Introductory Level Paycheck Basics.

Journal You can choose whether you want to be paid $50,000 salary for the whole year of $20 an hour for however long you work. You will get time and a.

14.2 Federal Taxes.

“Compound interest is the eighth wonder of the world

Take Charge Today Introductory Level Paycheck Basics.

Discuss these questions with your table partner:

Ms. Alltucker Accounting II

Financial Report Today we will:figure out our Net monthly income

HEALTH INSURANCE PLANS

Payroll taxes and Paychecks Take Charge of your Finances

Personal finance unit (Don’t be a dope with your money)

What are Taxes? Chapter 14 Section 1

JOURNALIZING PAYMENT OF A PAYROLL

Tax Forms & Deductions Students will locate, evaluate, and apply personal financial information Standard AE1.

All of this information can also be found in your JA workbooks.

Computing Deductions on Your Paycheck

Take Charge Today Introductory Level Paycheck Basics.

Take Charge Today Introductory Level Paycheck Basics.

Take Charge Today Introductory Level Paycheck Basics.

Take Charge Today Introductory Level Paycheck Basics.

LESSON 3-2 Recording a Payroll and Payroll Taxes

Programs that give benefits to citizens in need

Retirement Vocabulary

Take Charge Today Introductory Level Paycheck Basics.

More Budget Practice Financial Literacy.

Today’s Agenda: Finish Session #1 (NMI) Class Reflection

Decision Making in Finance Paycheck Example

Junior achievement 2019 vocab

Financial Report Today we will:figure out our Net monthly income

Junior Achievement Here are the minor notes from the past two weeks (and this final week) All of this information can also be found in your JA workbooks.

LESSON 3-2 Recording a Payroll and Payroll Taxes

Definitions Gross Annual Income: (GAI)

Who is FICA?? The tax man cometh!!

Discuss With Elbow Partner Get out “Your Budget” Worksheet

LESSON 3-2 Recording a Payroll and Payroll Taxes

Getting Paid Personal Finance.

10-2: Entitlement Programs

Chapter 14-3: Taxes and Government Spending

Take Charge Today Introductory Level Paycheck Basics.

Presentation transcript:

On the back your packet: What do I budget for at age: 14 years old 25 years old 50 years old *Get a Chromebook, but do not turn it on *Make sure you have your headphones* **Pick up a packet off table. Put your name on the front**

Today we will: learn about what a budget is So we can: begin to make financial decisions

Balancing your spending and your income

Independence unit…. YOU will be in charge of YOU. You are expected to follow directions, listen, and read information fully. You need follow along in the packet along with the virtual session. Keep up with vocab words and packet.

Log in to Chromebook Google Search: JA Finance Park Virtual Create an Account: User Name: Student ID # Password: Initials+Birthday Example: Caitlin Schoville = Cs082689 Use school email

Directions: Listen to intro Make selections on what you’d like Record #1, 1a, 1b Continue Meet Casey Life Profile --- fill out front page + background Create Avatar NMI worksheet

ThingLink: On Life Skills website (teacher pages) You will find information and vocabulary definitions to assist in your journey.

Homework: ThingLink Definitions: Budget, NMI, GAI, GMI, Taxes (SS, FI, M) Create account for JA Virtual

Class Reflection What will be your Expense Priorities? What will be your Monthly Goals? What surprised you from your total? What do you want to know more about?

Definitions Gross Annual Income: How much you make each year BEFORE taxes Gross Monthly Income: How much you make each month BEFORE taxes Net Monthly Income: How much you make each MONTH after taxes Get it? Net. haha!

Definitions Federal Income Tax Social Security Medicare A portion of one’s personal income paid to the government **The more you make, the more you pay** Income tax pays for: Social Security, Medicare, Retirement programs, Military, veterans, Interest payments on national debt, Social programs- medicaid, food stamps, unemployment, Law enforcement- prisons, FBI, CIA Social Security - A federal insurance program that provides benefits to retired persons, the disabled, and spouses of deceased workers. - Provides economic security for Americans unable to work. - Comes from workers and employers Medicare The federal health insurance program for people who are 65 or older or certain younger people with disabilities.