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Daily Information 9/25/14

Daily Information 9/25/14. 3/10/2014. Agenda: Warm Up Student P.P. Word Cloud Getting Paid P.P. Student notes Getting Paid Math Exit Ticket. Warm Up: How much money does a person need?. Objectives: Identify items that are listed on a paycheck stub.

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Daily Information 9/25/14

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  1. Daily Information 9/25/14 3/10/2014 • Agenda: • Warm Up • Student P.P. • Word Cloud • Getting Paid P.P. • Student notes • Getting Paid Math • Exit Ticket • Warm Up: • How much money does a person need? • Objectives: • Identify items that are listed on a paycheck stub. • Differentiate between gross and net income.

  2. Daily Information 9/26/14 3/10/2014 • Agenda: • Warm Up • Getting Paid P.P. • Student notes • Getting Paid Math • Exit Ticket • Warm Up: • What are your plans this weekend? • ***Projects due today!! Take out and turn in • Objectives: • Identify items that are listed on a paycheck stub. • Differentiate between gross and net income.

  3. Getting Paid Chapter 2 Lesson 2

  4. Types of Income *** Earned Unearned Interest Dividends(cash and stock) Pension • Wage/Hourly • Salary • Tip • Commission

  5. Salary vs. Hourly Would you rather be paid a salary or hourly wage?

  6. Payroll deductions Mandatory Optional

  7. Pay Check Deductions *** Mandatory Deductions Optional Deductions Health Insurance Life Insurance Disability Insurance Retirement Plan • Federal income tax • State income tax • Local income tax • Social Security Tax • Medicare Tax

  8. Federal Income Tax How do you benefit from paying taxes? Largest required deduction

  9. What is Social Security? • Income for: • Retirees • People with disability • 6.2% • Paid by each worker and matched by employer

  10. What is Medicare? • Helps pay for health care for individuals 65 and older • 1.45% • Paid by each worker and matched by each employer

  11. How Employers Further Support Employees *** Both required at no cost to the employee

  12. How Employers Further Support Employees *** • Pay without work (vacation, sick, personal) • Perks (emotional satisfaction or social status) • Educational Benefits • Retirement Plans • Insurance Through Benefits: Forms of pay other than salary or wages Increase the overall value of disposable income

  13. What is a pay stub? Why is it important to review your pay stub? Pay stub - outlines the deductions made to wages

  14. Pay Stub

  15. Pay Stub

  16. Pay Stub Gross income Net income

  17. Pay Stub

  18. Pay Stub What are examples of deductions?

  19. Pay Stub

  20. Pay Stub

  21. Summary: Critical Information

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