Check out this top product on Teacher Pay Teachers to see reviews.
Want additional Personal Finance Materials? Check out our Personal Finance Semester Course, where this unit plan is included!
Unit can be taught in the classroom or online
Google, Windows, & Mac-friendly!
All documents are editable to meet your classroom needs.
Meets National Business Education Association Standards and ISTE Standards
This unit plan covers Income & Taxes in personal finance for grades 7-12. Students will understand deductions, net pay, benefits, and incentives with demonstrations and applications. They will also be able to analyze and research job availability, income, earnings, and gross pay. With demonstrations and application, students will have knowledge of taxes, tax brackets, w-2, 1040s, and filing a tax return.
Students will be able to:
Identify various ways people earn a living and differentiate between earned and unearned income along with identifying sources of unearned income (e.g., transfer payments and gifts)
Differentiate between gross and net income
Identify an investigate benefits as a component of total income
Explain the various types of taxes and their impact on purchasing power
Identify types of income other than wages (e.g., interest, rent, and profit) that people earn from their resources
Describe the different types of taxes (e.g., progressive, regressive, and proportional)
Explore potential tax deductions and credits on a tax return
Calculate personal tax liabilities for various types of taxes (e.g., property, income, sales, FICA, and Medicare) and net pay
Explain the impact of taxes on personal financial planning
Describe information and required forms relevant to the completion of state and federal income tax forms
This unit is infused with technology, real-world application and is designed to be engaging and rigorous. It is the perfect unit for any business class.
This unit plan is conducted through lectures, engaging activities, group-paced instruction, and discussion. Assignments range from a mix of daily assignments, time, projects graded on effort/attempt, unit tests, and a project graded on overall appearance and completion of given requirements.
Included:
Unit Plan with Daily Instructions
PowerPoint with stopping points to deepen students' knowledge of the content
Student Graphic Organizer & Answer Key
Employee Benefits Handbook 4-Part Project and Rubric
Calculation Taxes 5-Part Activity
Tax Return Scenarios 3-Part Project with Rubric
Test Quizlet Review Game
Test & Answer Key
***********
Terms of Use:
Created by Tech Twins, LLC ©
The purchase of this product is for single classroom use by the purchaser only. It is a violation for individuals, schools, and districts to redistribute, edit, sell or post this item on the internet or to other individuals. Additional licenses are available for purchase.
Product names, logos, brands, and other trademarks featured or referred to within this lesson are the property of their respective trademark holders. These trademark holders are not affiliated with Tech Twins, LLC. They do not sponsor or endorse the contents, materials, or processes discussed within this lesson.
Thanks for visiting our store! If you decide to make a purchase, please do not forget to leave feedback. We love to hear your thoughts on our products!
Also, don't forget to "FOLLOW" us for exciting new product announcements, sales, promotions, and updates!
Sincerely,
The Tech Twins