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City Life (Citizenship): Taxes. The students will be able to examine how income taxes are applied to income. The students will be able to calculate income.

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Presentation on theme: "City Life (Citizenship): Taxes. The students will be able to examine how income taxes are applied to income. The students will be able to calculate income."— Presentation transcript:

1 City Life (Citizenship): Taxes

2 The students will be able to examine how income taxes are applied to income. The students will be able to calculate income tax from total earnings. The students will be able to list public services paid for by taxes.

3 taxes: A contribution that supports a government, required of persons or businesses within the domain of that government to pay

4 income taxes: A percentage of money paid to the government based on the amount of money earned

5 imports: To bring in goods from a foreign country for use, sale, processing

6 exports: To ship goods to other countries or places for sale or exchange

7 tariffs: A fee charged on imported goods

8  Schoolhouse Rocks: Tax Man  Discovery Education: Taxes: How They Help the Government

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11 Imagine you started your own lawn mowing business this pass summer. You charge $15.00 per lawn. You cut five lawns per week. During your busy summer, you worked a total of 11 weeks over the summer break. It is now tax time… time to pay Uncle Sam (government) his fair share of your income. Based on your student status, you owe 10% income tax on your summer income. How much money do you owe this year?

12 Why does the government tax its citizens? What are some public services paid for by taxes? How would we pay for roads, parks, and other things if there were no taxes? Explain one of the three different kinds of taxes? Income Sales Personal Property

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