U1 Ch2: Taxes & Basics Classwork

Last updated 9 months ago

69 questions

Note from the author:

Click here for chapter notes

Objectives:

Calculate percentages
Read a pay stub
Complete a W-4
Identify common payroll deductions
Understand and create an expression in function notation
Evaluate the domain and range of a function from its constraints
Represent real world scenarios as a function
Evaluate functions for a specific input value or set of values
Understand how to model and calculate different types of taxes

Instructions

Click here for chapter notes

Objectives:

Calculate percentages
Read a pay stub
Complete a W-4
Identify common payroll deductions
Understand and create an expression in function notation
Evaluate the domain and range of a function from its constraints
Represent real world scenarios as a function
Evaluate functions for a specific input value or set of values
Understand how to model and calculate different types of taxes

Section 1: Paycheck Overview

Watch the video below, then answer the questions.

What type of information should you see when you look at your paystub?

Why is it important for you to understand how to read your pay stub?

Pay amount BEFORE deductions is called

Pay amount AFTER deductions (take home pay) is called

If you don't get a paper check, where can you find your pay stub information about your taxes and deductions?

Read this article and then answer the questions below.  The article gets into some more detail about payroll deductions

Article Link

What are payroll deductions?

What deductions will almost everyone see on their pay stub?

What deductions will many people (but not all) see on their pay stub?

What does FICA tax include?

If you have an employer (you don't run your own business or work for cash), who pays the FICA tax?

What are some reasons someone would choose to have deductions from their paycheck? (This means taken out before you even get it, not an autopayment from your checking account)

Complete the EdPuzzle at the link below

Edpuzzle Link

Did you complete the EdPuzzle

What sections does EVERYONE have to do?

Section 2: Types of Income

Read this article and answer the questions below

Article Link

What is the main difference between salary and wage work?

What are two ways that you can earn income without working?

So you want to be an influencer? Being an influencer IS work, but it's not your traditional setting.  Let's learn some more about what it's like!

Complete the Edpuzzle at this link

Did you complete the EdPuzzle

Read the articles and make some notes in the "Show Your Work" Box (use the text tool!) about things you found interesting for class discussion.
How Many Followers Do You Need
Influencers are Taking Over the World

If you’re active on social media...
Which influencers do you follow & on what platforms?
What is it about these people that motivates you to follow them?

OR

If you’re not active on social media...
Which influencers have you heard of?
What about these people do you think motivates others to follow them?

What kinds of things do you think influencers spend their time doing? Describe what you think an average day for a social media influencer might look like.

Open up the Influenc’d game. Your objective is to decide which tasks you should prioritize in order to finish projects and meet your goals, all while increasing your follower count and making money. Good luck!

Play until you hit Week 10. 
Did you reach the goal? _______ What was your follower count?_______ How much money did you make?_______ 

How did your leap into becoming a social media influencer go? Were you able to achieve all of your goals? Which areas were you successful in and which were you not so successful in?

You had several opportunities to learn about things related to your craft, such as editing, photography, and market research. Why would it be important for an influencer to stay on top of these skills?

Sometimes the game would ask if you wanted to unplug or do things unrelated to your influencer lifestyle. Explain how taking some time off can actually help you build your brand.

Think about some of the things you would have given up by leaving your full-time job to become a social media influencer. What should someone consider before pursuing life as an influencer?

Look back at your answer to question 17: How did your experience in the game compare to your answer? What did you learn about what it’s like to become a full-time influencer?

After playing the game, self-assess how good you might be at becoming a social media influencer in real life.  Rate yourself, 1-10 (10 is the best)
a. I’ve got interesting content ideas
_______ 
Answer:
b. I’ve got great networking and communication skills
_______ 
Answer:
c. I’ve got great business and/or other technical skills
_______ 

Are you interested in being a social media influencer? Explain why or why not.

Section 3: Analyzing Percentages

Kiki earned $500 gross pay this week. She had 16% of her check deducted. What was her deduction amount, in dollars & cents?

Kiki had $50 deducted from her pay this week, which was 18% of her check. What was her gross pay (the money she earned before taxes) Rounded to look like dollars & cents

Marco's gross pay was $450. He paid $52.43 in deductions. What percentage of his paycheck was deducted? Rounded to the nearest hundredth

Round to the nearest hundredth

Round to the nearest whole percent

Round to the nearest hundredth

OPTIONAL CHALLENGE

Complete the exercise on IXL (click the link below, or search the shortcut code, or check your "From your teacher" on IXL). Work on it until you get a smart score of at least 75

I.5 Percent of a number: tax, discount, and more - Shortcut code KZZ

What was your score?

Complete the exercise on IXL (click the link below, or search the shortcut code, or check your "From your teacher" on IXL). Work on it until you get a smart score of at least 75

P.8 Find the percent: tax, discount, and more - Shortcut code PBM

What was your score?

Section 4: Function Notation and Evaluating Functions

If you weren't in class don't worry about this link

As a class, we will review some of the slides for "What's in the Box"

Write the function that shows the variable x is being increased by two, then that answer is being doubled.

Jeremiah makes $15 an hour working part-time at a local fast food restaurant. He pays approximately 11% in taxes on his earnings. If h is his hours worked, model his weekly after-tax wages as a function w(h) of hours worked.

Sarah goes to the grocery store and buys g packs of gum. Sales tax in Connecticut is 6.35%. If a single pack of gum costs $0.89, write a function p(g) to model the tax amount

Janet rents a booth at the farmers market that costs $150 a day. She sells jars of fresh honey from her family farm for $8 each. At the end of the day, she splits all the money she brings home as profit with her mom who takes care of the bees. If j is the number of jars of honey sold, write a function (f(j) representing how much money Janet makes each day.

Taylor makes $13 per hour at the grocery store. She always works between 10-15 hours per week to leave time for her homework and band practice. Her gross wages can be modeled as w(h) = 13h, where h is the number of hours worked per week. How much will her gross wages be if she works 12 hours this week?

Susan earns 0.5% interest annually in her savings account. She can model her savings account balance after earning interest for a year as f(x) = x + 0.005x, or just f(x) = 1.005x, where x is the account balance. What will be her account balance after a year if she started with $30,000 in her account?

Joan has an employee discount of 15% off at StuffMart. She needs to buy 4 packages of hot dogs and 3 packages of buns for her cookout. A package of hot dogs is $2.50 and the cheapest buns are $0.50, while the most expensive “fancy” buns are $4.50. If b is the cost of a package of buns, she can model her purchase as c(b) = 0.85(3b + 10) . What would her total purchase price be if buns cost $1.50?

The function f operates on variable x by tripling it, adding 5, and then doubling that quantity again. This can be modeled as f(x) = 2(3x + 5).

What would be f(22)?

Same function as above - The function f operates on variable x by tripling it, adding 5, and then doubling that quantity again. This can be modeled as f(x) = 2(3x + 5).

What would be f(-22)?

Section 5: Review for Five Point Practice

Jake works for State Farm. His annual salary is $95,000. He pays the usual 7.65% in FICA taxes. How much does he pay in FICA taxes?

The total price after sales tax in a particular town is modeled by t(x)=1.04x, with x being the price of the taxable products. If Mela buys $52 worth of taxable products, what is her total?

Kris makes $1,154 one week. She pays 22% in deductions for tax and insurance. How much money that week goes to deductions?

Jake from State Farm gets a raise. He now makes $110,000 per year. He also gets divorced, so he needs his own insurance and retirement plan. His deductions are now 28% of his gross pay. How much does Jake take home each year?

Looking at the paystub above, what percent of the total current deductions are tax deductions? Round to the nearest hundredth

Looking at the paystub above, if the health insurance was increased by $50, what percent of the total current gross pay would be deductions? Round to the nearest hundredth

Cade works as a landscaper, making $18/hr. The only pay deductions for Cade are federal FICA taxes (7.65%). Write a function to show Cade's take-home pay for h hours of work.

Section 6: Function Domain and Range

Section 7: Apply It

Link will be posted when we get to this

Click here to open the Apply It activity in another tab - you need to ask Mrs. Butler to unlock this for you if you are making it up or finishing it late

U1 Ch2: Taxes & Basics Classwork

What type of information should you see when you look at your paystub?

Why is it important for you to understand how to read your pay stub?

Pay amount BEFORE deductions is called

Pay amount AFTER deductions (take home pay) is called

If you don't get a paper check, where can you find your pay stub information about your taxes and deductions?

What are payroll deductions?

What deductions will almost everyone see on their pay stub?

What deductions will many people (but not all) see on their pay stub?

What does FICA tax include?

If you have an employer (you don't run your own business or work for cash), who pays the FICA tax?

What are some reasons someone would choose to have deductions from their paycheck? (This means taken out before you even get it, not an autopayment from your checking account)

Did you complete the EdPuzzle

What sections does EVERYONE have to do?

What is the main difference between salary and wage work?

What are two ways that you can earn income without working?

Did you complete the EdPuzzle

Read the articles and make some notes in the "Show Your Work" Box (use the text tool!) about things you found interesting for class discussion. How Many Followers Do You NeedInfluencers are Taking Over the World

What kinds of things do you think influencers spend their time doing? Describe what you think an average day for a social media influencer might look like.

How did your leap into becoming a social media influencer go? Were you able to achieve all of your goals? Which areas were you successful in and which were you not so successful in?

You had several opportunities to learn about things related to your craft, such as editing, photography, and market research. Why would it be important for an influencer to stay on top of these skills?

Sometimes the game would ask if you wanted to unplug or do things unrelated to your influencer lifestyle. Explain how taking some time off can actually help you build your brand.

Think about some of the things you would have given up by leaving your full-time job to become a social media influencer. What should someone consider before pursuing life as an influencer?

Look back at your answer to question 17: How did your experience in the game compare to your answer? What did you learn about what it’s like to become a full-time influencer?

Are you interested in being a social media influencer? Explain why or why not.

Kiki earned $500 gross pay this week. She had 16% of her check deducted. What was her deduction amount, in dollars & cents?

Kiki had $50 deducted from her pay this week, which was 18% of her check. What was her gross pay (the money she earned before taxes) Rounded to look like dollars & cents

Marco's gross pay was $450. He paid $52.43 in deductions. What percentage of his paycheck was deducted? Rounded to the nearest hundredth

Round to the nearest hundredth

Round to the nearest hundredth

Round to the nearest whole percent

Round to the nearest whole percent

Round to the nearest hundredth

OPTIONAL CHALLENGE

Complete the exercise on IXL (click the link below, or search the shortcut code, or check your "From your teacher" on IXL). Work on it until you get a smart score of at least 75I.5 Percent of a number: tax, discount, and more - Shortcut code KZZWhat was your score?

Complete the exercise on IXL (click the link below, or search the shortcut code, or check your "From your teacher" on IXL). Work on it until you get a smart score of at least 75P.8 Find the percent: tax, discount, and more - Shortcut code PBMWhat was your score?

Write the function that shows the variable x is being increased by two, then that answer is being doubled.

Jeremiah makes $15 an hour working part-time at a local fast food restaurant. He pays approximately 11% in taxes on his earnings. If h is his hours worked, model his weekly after-tax wages as a function w(h) of hours worked.

Sarah goes to the grocery store and buys g packs of gum. Sales tax in Connecticut is 6.35%. If a single pack of gum costs $0.89, write a function p(g) to model the tax amount

The function f operates on variable x by tripling it, adding 5, and then doubling that quantity again. This can be modeled as f(x) = 2(3x + 5).What would be f(22)?

Same function as above - The function f operates on variable x by tripling it, adding 5, and then doubling that quantity again. This can be modeled as f(x) = 2(3x + 5).What would be f(-22)?

Jake works for State Farm. His annual salary is $95,000. He pays the usual 7.65% in FICA taxes. How much does he pay in FICA taxes?

The total price after sales tax in a particular town is modeled by t(x)=1.04x, with x being the price of the taxable products. If Mela buys $52 worth of taxable products, what is her total?

Kris makes $1,154 one week. She pays 22% in deductions for tax and insurance. How much money that week goes to deductions?

Jake from State Farm gets a raise. He now makes $110,000 per year. He also gets divorced, so he needs his own insurance and retirement plan. His deductions are now 28% of his gross pay. How much does Jake take home each year?

Looking at the paystub above, what percent of the total current deductions are tax deductions? Round to the nearest hundredth

Looking at the paystub above, if the health insurance was increased by $50, what percent of the total current gross pay would be deductions? Round to the nearest hundredth

Cade works as a landscaper, making $18/hr. The only pay deductions for Cade are federal FICA taxes (7.65%). Write a function to show Cade's take-home pay for h hours of work.

Read the articles and make some notes in the "Show Your Work" Box (use the text tool!) about things you found interesting for class discussion.
How Many Followers Do You Need
Influencers are Taking Over the World

Complete the exercise on IXL (click the link below, or search the shortcut code, or check your "From your teacher" on IXL). Work on it until you get a smart score of at least 75

I.5 Percent of a number: tax, discount, and more - Shortcut code KZZ

What was your score?

Complete the exercise on IXL (click the link below, or search the shortcut code, or check your "From your teacher" on IXL). Work on it until you get a smart score of at least 75

P.8 Find the percent: tax, discount, and more - Shortcut code PBM

What was your score?

The function f operates on variable x by tripling it, adding 5, and then doubling that quantity again. This can be modeled as f(x) = 2(3x + 5).

What would be f(22)?

Same function as above - The function f operates on variable x by tripling it, adding 5, and then doubling that quantity again. This can be modeled as f(x) = 2(3x + 5).

What would be f(-22)?