TEKS & Objectives
7.13 Personal financial literacy. The student applies mathematical process standards to develop an economic way of thinking and problem solving useful in one’s life as a knowledgeable consumer and investor. The student is expected to:
7.13.B identify the components of a personal budget, including income; planned savings for college, retirement, and emergencies; taxes; and fixed and variable expenses, and calculate what percentage each category comprises of the total budget
7.1.A apply mathematics to problems arising in everyday life, society, and the workplace
We will explore how goods and services benefitting the American people are paid for through taxes.
I will identify different types of taxes and sort them into categories.
1. Complete warmup.
2. Watch video.
3. Compare types of taxes.
Use the chart below to sort taxes into categories.
NOTE: Small correction to the notes below… Payroll taxes are split directly between the employer and the employee. Employees pay a portion, and the employer is legally required to match it dollar-for-dollar.
Sort types of taxes.
4. Try an optional tax wordsearch.
5. “Beginning Economics”
6. Practice at Brainzy.
….No assignments today.
….Complete any unfinished assignments.
….Practice at any island.
…..Look for the assignment with today’s date.
Find access codes here.
Classroom Resources
Extras
- My finances wordsearch
- Entrepreneurship wordsearch
- Career and job wordsearch
- Career Packet (coloring pages and activities)