FINANCIAL LITERACY-The MoneyTrail - Part 12 - Payroll & Deductions, 2019 3rd Ed

FINANCIAL LITERACY-The MoneyTrail - Part 12 - Payroll & Deductions, 2019 3rd Ed
FINANCIAL LITERACY-The MoneyTrail - Part 12 - Payroll & Deductions, 2019 3rd Ed
FINANCIAL LITERACY-The MoneyTrail - Part 12 - Payroll & Deductions, 2019 3rd Ed
FINANCIAL LITERACY-The MoneyTrail - Part 12 - Payroll & Deductions, 2019 3rd Ed
FINANCIAL LITERACY-The MoneyTrail - Part 12 - Payroll & Deductions, 2019 3rd Ed
FINANCIAL LITERACY-The MoneyTrail - Part 12 - Payroll & Deductions, 2019 3rd Ed
FINANCIAL LITERACY-The MoneyTrail - Part 12 - Payroll & Deductions, 2019 3rd Ed
FINANCIAL LITERACY-The MoneyTrail - Part 12 - Payroll & Deductions, 2019 3rd Ed
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(3 MB|19 pages)
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FINANCIAL LITERACY - The Money Trail - Part 12 - Payroll & Deductions, 2019 3rd Ed – students learn the latest requirements that employers must follow when preparing employee paychecks. The Tax Cuts and Jobs Act of 2017 was implemented January 1, 2018. This updated Part 12 incorporates the new tax rules and recommends that workers update the W-4 to include the new tax code. For example, employers are required by law to deduct certain payroll taxes from the gross earnings of their employees. These taxes include federal income taxes, Social Security tax, and Medicare tax. In many states additional income taxes are withheld. Students learn to prepare a payroll register, calculate gross pay, read tax tables, compute taxes, determine net pay, and write payroll checks. Activities 1 & 2 with answer keys include: calculating gross pay; reading weekly and bi-weekly tax tables, prepare a payroll register and write paychecks.

  • Do your students understand how their paycheck is calculated?
  • Do your students know the difference between gross pay and net pay?
  • How is overtime pay calculated?
  • Are you interested in offering more math to your financial literacy units?
  • Do you need to bring financial literacy to your students?

Then, Financial Literacy: The Money Trail Series is just what you are looking for! In each part of the series, students will develop a working knowledge of the financial decisions that they need to make now and in the future. The Financial Literacy Parts are reinforcement activities using current research stats that parallel the standards. They are not intended as stand-alone units rather they are interactive activities between the teacher and students. The Money Trail Series supports the National Standards for Financial Literacy in the following: Earning Income, Buying Goods and Services, Saving Money, Using Credit, Investing, Protecting and Insuring.


Here are the links to all FINANCIAL LITERACY categories where you can find the products that are of interest to you. These links include 24 Chapters and Activities, Instructional PowerPoints for ALL Chapters, Checkpoints (Tests), 3 in 1 Package Deals, Bundles "Galore, and the "Flip of the Die" Budgeting Simulation. For more information, click on these links below:

FINANCIAL LITERACY - Individual Chapters & Activities

FINANCIAL LITERACY - PowerPoints for ALL Individual Chapters

FINANCIAL LITERACY - Checkpoints (Tests)

FINANCIAL LITERACY - 3 in 1 Package Deals (Chapter, Test & PPT)


FINANCIAL LITERACY - FLIP OF THE DIE "`14-Day Budgeting Simulation."

This activity fits nicely with the FINANCIAL LITERACY - "The Money Trail" series. It is a hands-on computerized (EXCEL spreadsheet) unit that reinforces what students learn when they finish or during the "The Money Trail" Parts. Access to computers is essential when teaching this unit. An option could be to use this activity as a final project. "


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Keywords: personal finance, real world, integration, interdisciplinary, customers, secondary, home school, math, economics, income tax, taxes, budgets, budgeting, financial goals, financial plan, savings, investing, banking, money, profit, cash, marketing, salaries, salary deductions, payroll, payroll register, 1040EZ form, tax forms, tax return, banking, bitcoins, check register, checking account, reconciliation, IRS, Federal Reserve, notes, credit score, credit bureaus, credit application, interest, finance charge, loans, insurance, identity theft,

fraud, credit protection, credit responsibilities, self-employment, contract, agreement, stocks, bonds, mutual funds, life insurance, auto insurance, automobile, car insurance, stock market game, health insurance, employee benefits, wants, needs, services, percentage, periodic rate, interest rate, inflation, student loans, installment loans, car loans, home loans, homeowners insurance, renters insurance, deductibles, standard deduction, apartment, fixed expenses, variable expenses, bartering, understanding money, spending, invest wisely, earning, payroll, Education Get Real, EGR.

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Total Pages
19 pages
Answer Key
Teaching Duration
3 hours
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