This 9-page product requires students to read tables and calculate federal taxes based on various incomes. Students will also be required to calculate the percentage of federal taxes as well. The tables students will refer to are based on the 2015 federal tax rates for single and married people respectively. Students will work with equations in the form of y = mx + b in which x represents the taxable income, and y represents the tax. They will be given either x or y and have to solve for the respective variable.
The products real world scenarios will help students to see the importance of solving equations, and will spark students’ interests by giving them a basic introduction to our progressive tax system. This lesson can be used in an algebra class or a financial literacy class as well.
Note: The zipped file contains the 9 page lesson, the 1 page key, and 1 page on copyright information. They are all PDF files.