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Taxes: Paystub Analysis

(*)(*)(*)(*)( ) ( 3.6, 127 students)
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  • Price per Classroom$2.00
  • Grade Levels 7, 8, 9, 10
  • Topics Taxes
  • Duration 15 Minutes
  • Auto Scored? Yes
  • Teacher Evaluation Needed? No

Activity Description

In this worksheet, students will analyze a sample pay stub to understand the various components, with a particular focus on the different taxes paid by an employee. By examining the details of the pay stub, students will learn how taxes are automatically deducted from their salary and reflected in their pay statement.

This activity aims to provide students with a clear understanding of the deductions made from their earnings, why the final salary they receive is lesser due to these deductions, and the importance of these taxes.

Activities:

  • Introduction to Pay Stubs: Students will receive an overview of what a pay stub is and its importance in providing a detailed breakdown of their earnings and deductions.
  • Sample Pay Stub Review: Students will be provided with a sample pay stub, which includes details such as gross pay, net pay, and various deductions.
  • Tax Analysis: Students will analyze the different types of taxes listed on the pay stub, understanding what each tax is.
  • Guided Questions: Guided questions will help students reflect on the significance of tax deductions, why their final salary is lesser due to these deductions,.


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Teacher Tips

Included with the activity, you can view the tips to clarify student's doubts or to evaluate answers (for a teacher scored worksheet).

National Standards in Personal Financial Education

Earning Income 8-5 -
Earning Income

Students will know that Social Security is a federal government program that taxes workers and employers to provide retirement, disability, and survivor income benefits for workers or their dependents .. Students will use this knowledge to 8-6a . Identify the different groups of people who qualify for Social Security benefits . 8-6b . Research the Social Security tax rate for someone who is self-employed vs . someone who is working for an employer . 8-6c . Given information on a worker’s income and today’s Social Security tax rates, calculate what the worker and the worker’s employer will pay in Social Security taxes . 8-6d . Investigate Social Security benefits for people of different income levels at their full retirement age .

Earning Income 8-7 -
Earning Income

Students will know that The government provides income support and assistance for people who qualify based on low income or other criteria .. Students will use this knowledge to 8-8a . Explain the financial situation addressed by Medicaid and SNAP (Supplemental Nutrition Assistance Program) . 8-8b . Give several examples of personal circumstances that qualify for government income support or assistance .

Earning Income 12-7 -
Earning Income

Students will know that Earning Income 12-7. Students will use this knowledge to The type and amount of taxes people pay depend on their sources of income, amount of income, and amount and type of spending .

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  • Price per Classroom$2.00
  • Grade Levels 7, 8, 9, 10
  • Topics Taxes
  • Duration 15 Minutes
  • Auto Scored? Yes
  • Teacher Evaluation Needed? No

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