HOW TO READ YOUR PAY STUB PF 1.2 ANALYZE FACTORS THAT AFFECT TAKE HOME PAY. Business Education.

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Presentation transcript:

HOW TO READ YOUR PAY STUB PF 1.2 ANALYZE FACTORS THAT AFFECT TAKE HOME PAY. Business Education

Video Where does my money go?

You’ve just got paid, now what? 1.Begin by telling students they’ve just received their first paychecks. Next, write the statements below on the Smartboard and challenge students to spot the false claim. A. My net income is the money I get to deposit in my bank account B. I don’t have to pay taxes because I’m not 18 years old yet C. I signed up for direct deposit, so I won’t get a physical check with my paystub

You’ve just got paid… 2. Encourage students to share their answers. Explain that B is the false statement because even minors have to pay taxes on money they earn. 3. Tell students that today’s lesson is about net earnings, taxes and other deductions they may encounter on their paystubs, as well as how they can make the most out of deductions to maximize savings.

What does this mean? Social Security 14% State Taxes 6% Medicare 2%

Banking

Poverty in America

Social Security