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Age Range:
Grade 9 through Grade 12 (High School)
Overview and Purpose:
Students will be able to apply percentages to real life situations by figuring the amount of income tax that will be withheld from a salary.
Objective:
The student will be able to
*calculate how much they will pay in federal, state, and local income tax for a year when they are paid for doing their dream job.
*research salary information on the internet.
Resources:
Internet access
Tax percentages for your area
Math journals
Calculators (optional)
Activities:
Have students look up the average salary for their dream job. Explain that they will have to pay taxes on that salary to the local, state and federal government. They can either research the tax percentages or you can give them to them. Have them calculate how much each week, month, and year they will pay in taxes and record the amount in their journals.
Graph the different amounts and have them draw conclusions about the amount of taxes people pay.
Closure:
Homework could include having students calculate and graph the amount paid in taxes for salaries at least $25,000 apart. More advanced students may also want to research the amount of other taxes withheld (Social Security, Workman's Compensation) and analyze how that affects salaries.