2/25 12:00-5:00
2/26 12:00-5:00
2/27 12:00-5:00
2/28 12:00-5:00
2/29 12:00-4:00
Tuesday, February 26, 2008
Monday, February 25, 2008
basic math ch 23
Suppose you bought an exercise machine for $161, books for $36,CD's for $32, and a watch for $45.If the states sales tax is 4%, how much did you spend?
$161
$ 36
+ $ 32
$ 45
_____
$274*.4%=10.96
$161
$ 36
+ $ 32
$ 45
_____
$274*.4%=10.96
CH 23.2 Review
1. why is it important to build up work credits? -helps you to get social security benefits
2. Why is the program of benefits discussed in this section called Social Security?- the program of benefits help provide benefits.
3. What may happen to social security by the time you retire if the system isnt changed soon? - less retirement money will be given out to you.
2. Why is the program of benefits discussed in this section called Social Security?- the program of benefits help provide benefits.
3. What may happen to social security by the time you retire if the system isnt changed soon? - less retirement money will be given out to you.
ch 23.1 Review
1. List five characteristics of a good tax system. Why are these features desirble?- all of this are important=fair tax system,clear tax laws, stable tax system,flexable,and convenient tax collection .
2. How does the amount of money you earn and the amount withheld determine whether you owe income tax? - If you make over or under a certain amount that tells you, you owe them and how much .
3. How will understanding such terms as exemption, dependent, and deduction help you complete a tax return? - following the rules will help you complete the tax return easier.
2. How does the amount of money you earn and the amount withheld determine whether you owe income tax? - If you make over or under a certain amount that tells you, you owe them and how much .
3. How will understanding such terms as exemption, dependent, and deduction help you complete a tax return? - following the rules will help you complete the tax return easier.
Chapter 23 Key Terms
IRS:agency that collects federal taxes and oversees the federal tax system
Withhlod:take out money from your paycheck to pay income tax due on your wagesincome tax return: a form that shows how much you earned from working and made from other sources
Exemption:a fixed amount of money that is excused from
taxes deduction:an expense that you are allowed to subtract from your income.
Work credits:are measurements of how long you've worked.
Disabled worker:someone who can ont work cause of enjury
Medicare:benefits that are for health
unemployment insurance: not working
Workers compensation:money paid to workers who are hurt
Withhlod:take out money from your paycheck to pay income tax due on your wagesincome tax return: a form that shows how much you earned from working and made from other sources
Exemption:a fixed amount of money that is excused from
taxes deduction:an expense that you are allowed to subtract from your income.
Work credits:are measurements of how long you've worked.
Disabled worker:someone who can ont work cause of enjury
Medicare:benefits that are for health
unemployment insurance: not working
Workers compensation:money paid to workers who are hurt
ch 23 Recalling key concepts
2. Which of the following is not a characteristic of a fixed system?
B tax rules are clear and simple
3. You'll have to pay additional income tax if.
C did'nt recieve a W-2
4. Socail Security taxes are paid by ?
C both workers an demployers
5. Which one of the following benefits is not part of Social Security?
B survivors' benefits
6. One reason why the Social security system is in trouble is that.
B birth rate is declining
B tax rules are clear and simple
3. You'll have to pay additional income tax if.
C did'nt recieve a W-2
4. Socail Security taxes are paid by ?
C both workers an demployers
5. Which one of the following benefits is not part of Social Security?
B survivors' benefits
6. One reason why the Social security system is in trouble is that.
B birth rate is declining
ch 23 summery
Chapter 23 is a chapter of two lessons where it teaches you how to do taxes and how they work, where do they go and etc., section 23.1 talks about taxes that are payments that people must make to support federal, state, and local governments. Internal Revenue Services or IRS-is the agency that collects federal taxes and oversees the federal tax system...Common taxes include income taxes. Withhold, - or take out, money fo from your paychecks to go pay incometax due on your wages. It also talks abut the tax dollars that pay for a wide range of services, such as education, transportation, and military services, it also shows you how can you influence the way that tax dollars are spent by voting for officials who represent our views, a good tax system should be fair, simple, convenient, stable, and flexible. Incometax return- is a form that shows how much you earned from working and made from other sources.When your income tax return shows how much income you received and how much tax you owe, and from your w-4 you will tell your employer how much tax to withhold and from the w-2 you will be able to find out how much you earned. Exemption- is a fixed amount of money that is excused from taxes. Deduction- is an expense that you are allowed to subtract from you income. Then section 23.2 is about the money that social security benefits comes chiefly from social security taxes paid by workers and employers and how the government uses you social security number to keep track of your contributions Work credits- are measurements of how long you've worked. work history and the benefits include disability benefits survivors’ benefits, retire benefits, and health insurance benefits and it talks abut the two state run programs that provide benefits for workers are unemployed insurance and workers’ comensation.
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