11. Suppose you bought an exercise machine for $161, books for $36, Cd's for $32, and a watch for $45. If the state sales tax is 4 percent, how much did you spend.
161+36+32+45= $274
$274*.04=$10.96
$274+10.96=$284.96
Answer=$284.96
Friday, February 22, 2008
Chapter 23 Key Concepts
2. Which of the following is NOT a characteristic of a good tax system?
C- Taxes are collected at the beginning of each year.
3. You'll have to pay additional income tax if-
A- Your employer withholds too little tax.
4. Social Security taxes are paid by-
C- Both workers and employers
5. Which one of the following benefits is NOT part of social security?
A- Worker's Compensation
6. One reason why the social security system is in trouble is that-
B- The birthrate is declining.
C- Taxes are collected at the beginning of each year.
3. You'll have to pay additional income tax if-
A- Your employer withholds too little tax.
4. Social Security taxes are paid by-
C- Both workers and employers
5. Which one of the following benefits is NOT part of social security?
A- Worker's Compensation
6. One reason why the social security system is in trouble is that-
B- The birthrate is declining.
Chapter 23 Vocabulary
1. IRS- The agency that collects federal taxes and oversees the federal tax system.
- I had to call the IRS because of an error on my W-2.
2. Withhold- to take out, money from your paychecks to pay income tax due on your wages.
- My employer withholds money to pay for social security.
3. Income tax return- a form that shows how much you earned from working and made from other sources.
- I recieved my income tax return a few weeks ago, filed for my return, and will be recieving my check on tuesday.
4. Exemption- A fixed amount of money that is excused from taxes.
- Since I am under age, and my mom is claming me, there were no exemptions on my taxes.
5. Deduction- An expense that you are allowed to subtract from your income.
- There were no deductions on my tax retuen either.
6. Work Credits- measurements of how long you've worked.
At the Children's Courtyard, my director keeps track of work credits earned.
7. Disabled Worker- someone who cannot work because of a physical or mental condition.
- A co-worker of mine had her finger smashed in the door by a child, and cannot work for a while because of it. This makes her a disabled worker.
8. Medicare- A form of health insurance benefits which are paid to people who need hospitalization or other medical care.
- At my job, an employee must be "full-time" before recieving medicare benefits.
9. Unemployment Insurance- provides temporary income to workers who have lost their jobs.
- My grandfather lost his job last year and recieved a monthly check until he found another job to replace the old one.
10. Worker's Compensation- Benefits that are paid to workers who were injured on the job and to dependents of workers killed on the job.
-My co-worker that hurt her finger, is using workmens compensation to help pay for the medical bills.
- I had to call the IRS because of an error on my W-2.
2. Withhold- to take out, money from your paychecks to pay income tax due on your wages.
- My employer withholds money to pay for social security.
3. Income tax return- a form that shows how much you earned from working and made from other sources.
- I recieved my income tax return a few weeks ago, filed for my return, and will be recieving my check on tuesday.
4. Exemption- A fixed amount of money that is excused from taxes.
- Since I am under age, and my mom is claming me, there were no exemptions on my taxes.
5. Deduction- An expense that you are allowed to subtract from your income.
- There were no deductions on my tax retuen either.
6. Work Credits- measurements of how long you've worked.
At the Children's Courtyard, my director keeps track of work credits earned.
7. Disabled Worker- someone who cannot work because of a physical or mental condition.
- A co-worker of mine had her finger smashed in the door by a child, and cannot work for a while because of it. This makes her a disabled worker.
8. Medicare- A form of health insurance benefits which are paid to people who need hospitalization or other medical care.
- At my job, an employee must be "full-time" before recieving medicare benefits.
9. Unemployment Insurance- provides temporary income to workers who have lost their jobs.
- My grandfather lost his job last year and recieved a monthly check until he found another job to replace the old one.
10. Worker's Compensation- Benefits that are paid to workers who were injured on the job and to dependents of workers killed on the job.
-My co-worker that hurt her finger, is using workmens compensation to help pay for the medical bills.
Thursday, February 21, 2008
Review 23.2
1. Why is it important to build up work credits?
- This is important because once you have built up enough credits, you can begin to recieve benefits.
2. Why is the program of benefits discussed in this section called social security?
- Because there is something called a social security benefit. This enables people to recieve a source of income after retirement.
3. What may happen to socail security by the time you retire if the system isn't changed soon?
- There may not be any social security for my generation when I retire.
- This is important because once you have built up enough credits, you can begin to recieve benefits.
2. Why is the program of benefits discussed in this section called social security?
- Because there is something called a social security benefit. This enables people to recieve a source of income after retirement.
3. What may happen to socail security by the time you retire if the system isn't changed soon?
- There may not be any social security for my generation when I retire.
Review 23.1
1. List 5 characteristics of a good tax system. Why are these features desirable?
- A tax system should be fair
- Tax laws should be clear and simple.
- Taxes should be collected at a convenient time.
- A tax system should be stable.
- A tax system should be flexible.
These features are desirable because they would make doing your taxes alot easier and the whole process could run smoothly.
2. How does the amount of money you earn and the amount withheld determine whether you owe income tax?
- Your employer determines how much to withhold by looking at the information you provide on a w-4 form. This will determine how much you owe.
3. How will understanding such terms such as exemption, dependent, and deduction help you complete a tax return?
- This will help you because you will know who and how many people you can claim on your taxes, which can in turn, help you to recieve money back.
- A tax system should be fair
- Tax laws should be clear and simple.
- Taxes should be collected at a convenient time.
- A tax system should be stable.
- A tax system should be flexible.
These features are desirable because they would make doing your taxes alot easier and the whole process could run smoothly.
2. How does the amount of money you earn and the amount withheld determine whether you owe income tax?
- Your employer determines how much to withhold by looking at the information you provide on a w-4 form. This will determine how much you owe.
3. How will understanding such terms such as exemption, dependent, and deduction help you complete a tax return?
- This will help you because you will know who and how many people you can claim on your taxes, which can in turn, help you to recieve money back.
Tuesday, February 19, 2008
Weekly Work Schedule
Monday feb 18 CALLED IN
Tuesday feb 19 CALLED IN
Wednesday feb. 20 1:30-6:30pm
Thursday feb. 21 1:30-6:30pm
Friday Feb. 22 1:30-6:30pm
Saturday OFF
Sunday OFF
Tuesday feb 19 CALLED IN
Wednesday feb. 20 1:30-6:30pm
Thursday feb. 21 1:30-6:30pm
Friday Feb. 22 1:30-6:30pm
Saturday OFF
Sunday OFF
Friday, February 15, 2008
My Career
1. If I had to pick a career today to stick with for the rest of my life, it would be cosmetology.
2. If I had to have a second and third choice, I would choose to be a massage therapist or a photographer.
3. Yes, I have researched these careers. I have looked up different information on the internet about all three and I have also looked intovarious schools for each career choice to see what they offer.
4. I know I would like to be a cosmetologist becaus I have always likeed to do people' hair, and even when I was little, I liked to play "make over" and i would do people's nails and make-up.
5. One thing I would like you to know about my career choice is that I have applied to Vogue Cosmetology school and am waiting for a reply, so this is what I am persuing as my career.
6. Yes, I have created a resume that is up to date, that I am frequently updating. I keep this on file and saved on my computer.
2. If I had to have a second and third choice, I would choose to be a massage therapist or a photographer.
3. Yes, I have researched these careers. I have looked up different information on the internet about all three and I have also looked intovarious schools for each career choice to see what they offer.
4. I know I would like to be a cosmetologist becaus I have always likeed to do people' hair, and even when I was little, I liked to play "make over" and i would do people's nails and make-up.
5. One thing I would like you to know about my career choice is that I have applied to Vogue Cosmetology school and am waiting for a reply, so this is what I am persuing as my career.
6. Yes, I have created a resume that is up to date, that I am frequently updating. I keep this on file and saved on my computer.
Tuesday, February 12, 2008
ch. 20 vocabulary
budget- a plan for saving and spending money.
record kepeing- organizing and maintaining records of your income and spending.
financial responsibility- accountability in money matters.
record kepeing- organizing and maintaining records of your income and spending.
financial responsibility- accountability in money matters.
Monday, February 11, 2008
week 23 work schedule
monday 1:30-6:30
tuesday 1:30-6:30
wednesday 1:30-6:30
thursday 1:30-6:30
friday 1:30-6:30
saturday OFF
sunday OFF
tuesday 1:30-6:30
wednesday 1:30-6:30
thursday 1:30-6:30
friday 1:30-6:30
saturday OFF
sunday OFF
Tuesday, February 5, 2008
week 22 work schedule
monday 1:30pm-6:30pm
tuesday 1:30pm-6:30pm
wednesday 1:30pm-6:30pm
thursday 1:30pm-6:30pm
friday 1:30pm-6:30pm
saturday OFF
sunday OFF
tuesday 1:30pm-6:30pm
wednesday 1:30pm-6:30pm
thursday 1:30pm-6:30pm
friday 1:30pm-6:30pm
saturday OFF
sunday OFF
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