September 25

Hi Class,
Today in class we went over the homework for last class, including the 1040EZ. Those who completed the 1040EZ on their own received 5 extra credit points.

We also discussed Retirement accounts.

PowerPoint:
http://www.scribd.com/doc/328193/Life-skills-Sept-251


Homework tonight
Review questions Chapter 6, Lesson 9
Worksheet http://docs.google.com/Doc?id=df5pkggb_205gmttr2
Study for test on Thursday
Topics for test:
FICA- What does it pay for, how much of your income is deducted, employer portion, self employed, is there a income cap
Medicare- What does in pay for, how much is deducted, employer portion, self employed
Income Tax : What does it pay for
Form W-2: How to find the information, use to complete a tax form
Form W-4: Complete the form
Read an Earnings Statement
Complete Form 1040EZ
What are the differences between CD'S, IRAS, Tax-deferred savings plans, and savings bonds.

September 20

Hi class
Today we reviewed how to read an earnings statement.
I gave you all a brief lecture on payroll taxes (Income tax, FICA, and Medicare)
We learned about forms W-2 and W-4.

http://www.scribd.com/doc/320365/taxes1


Homework: Packet containing: Earnings statement, w-2, w-4, 1040EZ. Remember to go to website to et instructions on completeing 1040EZ
http://www.unclefed.com/IRS-Forms/2002/i1040ez.pdf

September 18

Hi Class,
Today we worked on the 2 pages of the exam that were accidentally omitted on Friday.

We then learned about sales tax and a bit about payroll taxes

We did activity 37 from your workbooks in class today.

Homework: Read Chapter 6 Lesson 8 pages 200-202. Answer review questions on page 202.

September 14

Hi Class;
Today you have a substitute because I am on O'ahu with the 7th grade class.

You have an exam today. Good Luck

Enjoy the weekend.

September 12

Today in class we review check writing, deposit slip writing and bank reconciliation.
We concluded class with a lesson on calculating interest.

Simple Interest: 5 % on $500.00

500.00 x .05 = 25.00

Balance with interest $525.000

Compound Interest: 5% compounded quarterly.
Each quarter (every 3 months) account credited 1.25%

500.00 Starting Balance

6.25 1st Quarter Interest

506.25 New Balance

6.38 2nd Quarter Interest

512.63 New Balance

6.40 3rd Quarter Interest

519.03 New Balance

6.49 4th Quarter Interest

525.52 New Balance with interest

THESE 2 TOPICS WILL BE ON THE TEST
Also on the test:
Parts of a check


STUDY.

September 7

Today in class we discussed paying with cash or credit. We also discussed credit vs. debit cards.

We then had a little fun with check writing. Be sure to get all of your checks from your classmates, and hand out all of your checks.

Your homework is to balance your checkbooks.

Have a great weekend.

September 4

Hi Class,
Today in class:
Bell Ringer: List 10 words related to the word BUDGET

We went over the parts of a budget:
http://www.scribd.com/doc/271923/Sept-4

Homework:
Chapter 6, Lesson 2 review questions
Workbook activity page 31
Budget worksheet