Business Math Sec 6.4 Review

The income taxes withheld from a paycheck are based on the marital status and the number of what, that you claim on your w-4.

• withholding allowances

• dependents
• exemptions
• deductions

Tags

CCSS.7.RP.A.3

The two ways to calculate federal withholding taxes are using the ​ (a)   bracket method and the ​ (b)   method

• wage
• percentage
• income
• allowance
• net pay

Tags

CCSS.7.RP.A.3

How much in federal withholding taxes would Mark pay if he was a single person claiming 3 allowances and makes 465 a week.

Mathematical Equivalence

ON

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CCSS.7.RP.A.3

Use the Wage Bracket Method to calculate federal withholding taxes for a person who is married, claims 4 withholding allowances, and makes $2500 a month.

Mathematical Equivalence

ON

Tags

CCSS.7.RP.A.3

When using the percentage method to calculate federal withholding taxes, we first multiply one withholding allowance, by the number of allowances. We then (a)   this number from our gross earnings.

Tags

CCSS.6.RP.A.3C

Use the percentage method to calculate the number of withholding taxes a person would pay if they are paid 690 a week and claim two withholding allowances.

Mathematical Equivalence

ON

Tags

CCSS.6.RP.A.3C

According to the chart, how much money in state taxes would a person have to pay if they lived in Illinois and made $56,000 a year?

Mathematical Equivalence

ON

Tags

CCSS.6.EE.B.6

According to the chart what would a person living in New York have to pay in state income tax if they made $150,000 this year?

Mathematical Equivalence

ON

Tags

CCSS.8.F.B.4

CCSS.HSF.IF.B.6

Calculate the following persons Net pay. They have a gross pay of $485 a week. They are single and claim two allowances. They must pay FICA (6.2%), medicare (1.45%), federal withholding tax using the Wage Bracket method, state taxes at a rate of 1.5% and union dues of $15.

Mathematical Equivalence

ON

Tags

CCSS.7.RP.A.3

Two part open ended question... If you could open up your own business, what type of business would it be? Is owning your own business something you could actually see yourself doing in the future? Be honest and appropriate with your answers.

Tags

CCSS.RI.1.1

CCSS.RI.2.1

CCSS.RI.3.1

CCSS.RL.2.1

CCSS.RL.3.1