Day 83

Lesson Objectives

  • Describe factors affecting take-home pay.
  • Identify sources of personal income.
  • Identify different types of taxes.
  • Be familiar with various documents for reporting taxes.
  • Analyze the costs and benefits of paying taxes and the cost of government services.

Assignment 11.5.1

  1. Read pages 243-245.
  2. Discussion Questions:
    1. List the three taxes on income.
    2. What programs does the FICA tax fund?
    3. List the various types of income?
    4. What are the costs and benefits of paying taxes?

Assignment 11.5.2

  1. Make a copy of this Google Document, rename it Taxes-(Your Initials), and move it into your Chapter 11 folder.
  2. Read the directions in the attached document to complete this assignment.

Assignment 11.5.3

  1. In your Personal Finance Journal-C11 file in your Chapter 11 folder, complete the next row in the table by answering the question listed.