Summary
Income is more than a paycheck. This lesson defines gross and net income, explains mandatory deductions, like federal and FICA taxes, and utilizes a Form W-4 activity to demonstrate withholding.
Bellringer: The Net Pay Surprise
- Guess why a first job paycheck is less than expected
Instruction
- Define gross and net income
- Explore mandatory deductions
Discussion: FICA's Future
- Discuss whether students expect to collect Social Security benefits at retirement
Activity: Form W-4 Worksheet
- Understand Form W-4 terminology
- Discuss withholding too much or too little tax
Wrap-Up & Assessment
- Identify three deductions taken from gross pay
- Name two pieces of information required on Form W-4
| Est. Time | Activity | Description |
|---|---|---|
| 5 min | Bellringer: The Net Pay Surprise |
|
| 15 min | Instruction |
|
| 5 min | Discussion: FICA's Future |
|
| 15 min | Activity: Form W-4 Worksheet |
|
| 5 min | Wrap-Up & Assessment |
|
Lesson Prep
How to Fill Out a W4
Students complete a sample Form W4 (Employee Withholding Certificate).
Class Presentation
Includes a 22-slide deck with teacher notes. Present from Banzai, download a PDF, or copy it to Google Slides.
Presentations, Ready to Go
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- Teacher NotesSlide-by-slide guidance, printable as one handout
Financial Essentials
Intro to Financial Literacy
Values drive every dollar. This lesson defines financial literacy and introduces conscious budgeting as the necessary act of choosing to fund one value over another.
Earning Income
Income is more than a paycheck. This lesson defines gross and net income, explains mandatory deductions, like federal and FICA taxes, and utilizes a Form W-4 activity to demonstrate withholding.
Budgeting Basics
A budget is a spending plan. This lesson discusses choosing between needs and wants, and making tradeoffs. Students begin the Life Scenarios pretest and game.
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