6. PFL Fall 2020-Ms. Matthew 303-679-4624 Assignments

Upcoming Assignments RSS Feed

No upcoming assignments.

Past Assignments

Due:

Do Now  in Google Classroom

Do Now

Complete the prompt at the beginning of each class.

Due:

What affect Taxes -- Simulation  in Google Classroom

What affect Taxes -- Simulation

Work with a partner -- or a group up to 3 and complete the attached worksheet. Follow the instructions and go step by step we will go over this on Friday.


CALCULATE: What Affects How Much We Pay in Taxes?
Everyone has to pay taxes, but how much you pay depends on a lot of factors. In this activity, explore how three factors (your salary, the state you live in, and the cost of living) can have a big impact on how much you pay in taxes and how much you have leftover to spend on yourself.

Due:

Progress check If your paycheck could talk  in Google Classroom

Progress check If your paycheck could talk

Watch the video and answer the following questions --

https://edpuzzle.com/media/5c00711bd7e11a40dacc0867

Due:

Attendance -- Nov 30th Tax introduction  in Google Classroom

Attendance -- Nov 30th Tax introduction

Read the following section of the Kiplinger article on tax brackets and answer the question in the google form:

What Are the Income Tax Brackets for 2020?
Depending on your taxable income, you can end up in one of seven different federal income tax brackets – each with its own marginal tax rate.

It's never too early to start thinking about your next tax return. For most Americans, that'll be your federal tax return for the 2020 tax year — which, by the way, will be due on April 15, 2021 (or October 15, 2021, if extended). The 2020 tax rates themselves are the same as the rates in effect for the 2019 tax year: 10%, 12%, 22%, 24%, 32%, 35% and 37%. However, as they are every year, the 2020 tax brackets were adjusted to account for inflation. That means you could wind up in a different tax bracket when you file your 2020 return than the bracket you were in before – which also means you'll be paying a different tax rate on some of your income.

The tax bracket ranges also differ depending on your filing status. For example, the 22% tax bracket for the 2020 tax year goes from $40,126 to $85,525 for single taxpayers, but it starts at $53,701 and ends at $85,500 for head-of-household filers.

The difference between bracket ranges sometimes creates a "marriage penalty." This tax-law twist makes certain married couples filing a joint return — typically, where the spouses' incomes are similar — pay more tax than they would if they were single. The penalty is triggered when, for any given rate, the minimum taxable income for the joint filers' tax bracket is less than twice the minimum amount for the single filers' bracket. Before the 2017 tax reform law, this happened in the four highest tax brackets. But now, as you can see in the tables below, only the top tax bracket contains the marriage penalty trap. As a result, only couples with a combined taxable income over $622,050 are at risk when filing their 2020 federal tax return. (Note that the tax brackets for your state's income tax could contain a marriage penalty.)

How the Tax Brackets Work
Suppose you're single and have $90,000 of taxable income in 2020. Since $90,000 is in the 24% bracket for singles, would your tax bill simply be a flat 24% of $90,000 – or $21,600? No! Your tax would actually be less than that amount. That's because, using marginal tax rates, only a portion of your income would be taxed at the 24% rate. The rest of it would be taxed at the 10%, 12%, and 22% rates.

Here's how it works. Again, assuming you're single with $90,000 taxable income in 2020, the first $9,875 of your income is taxed at the 10% rate for $988 of tax. The next $30,250 of income (the amount from $9,875 to $40,125) is taxed at the 12% rate for an additional $3,630 of tax. After that, the next $45,400 of your income (from $40,126 to $85,525) is taxed at the 22% rate for $9,988 of tax. That leaves only $4,475 of your taxable income (the amount over $85,525) to be taxed at the 24% rate, which comes to an addition $1,074 of tax. When you add it all up, your total 2020 tax is only $15,680. (That's $5,920 less than if a flat 24% rate was applied to the entire $90,000.)

Now, suppose you're a millionaire (we can all dream, right?). If you're single, only your 2020 income over $518,400 is going to be taxed at the top rate (37%). The rest will be taxed at lower rates as described above. So, for example, the tax on $1 million for a single person in 2020 is $334,427. That's a lot of money, but it's still $35,573 less than if the 37% rate were applied as a flat rate on the entire $1 million (which would result in a $370,000 tax bill).

The full article can be found at: https://www.kiplinger.com/taxes/tax-brackets/601634/what-are-the-income-tax-brackets#:~:text=For%20most%20Americans%2C%20that'll,%2C%2035%25%20and%2037%25.

Due:

Do Now Unit 4 Credit  in Google Classroom

Do Now Unit 4 Credit

Complete the assigned question at the beginning of each class.

Due:

Movie

Movie "The Pursuit of Happyness" financial choices

STUDENTS IN CLASS TODAY:
Assignment: Students will watch the movie “The Pursuit of Happyness.” and answer questions on the worksheet. This should be printed and collected on Friday.

IF YOU ARE NOT IN CLASS and have Amazon Prime -- the movie is free on there. If you can't get the movie let me know and we will make arrangements.

Due:

Attendance Nov 9  in Google Classroom

Attendance Nov 9

Please complete the attached form for attendance today.
We will have a google meet on Tuesday Nov 10 -- schedule will post.

Due:

Interactive FICO Credit score  in Google Classroom

Interactive FICO Credit score

We will do 1 and 3 in class together and you will do two on your own.

Due:

Credit Score  in Google Classroom

Credit Score

We will review the credit report together in class and then you will answer the questions at the end. :-)

Due:

Oct 26 Remote Learning  in Google Classroom

Oct 26 Remote Learning

This week we will continue our work on credit cards and selecting the best card for you. Answer the following question for attendance and review the credit card worksheet in google classroom. We will complete the worksheet in class tomorrow.

Any questions please email me.
MM

Due:

Do Now Unit 3 Budgeting  in Google Classroom

Do Now Unit 3 Budgeting

Due:

Summative Project on Budget  in Google Classroom

Summative Project on Budget

Follow the instructions on the slides -- you will have two days (Friday, Oct 16 and Tuesday, Oct 20th) to complete this project.

Due:

How Do I Budget?  in Google Classroom

How Do I Budget?

Class Activity -- this is for familiarization; not for a grade. :-)
Open the Case study in classroom -- “How do I budget”
We will go through this as a class --

Due:

Attendance Monday Oct 5  in Google Classroom

Attendance Monday Oct 5

Monday: ON YOUR OWN:
Complete the attendance - google form
Review the schedule for the week
Do Now

Due:

Sep 28  Attendance  in Google Classroom

Sep 28 Attendance

Complete the attached for attendance on Monday.

Due:

Do Now Unit 2  in Google Classroom

Do Now Unit 2

You will have a daily do now -- Complete the daily prompt.
Please note: I changed the do now policy. All students must complete all the do nows for credit. I am posting them in Classroom so all students can do them regardless of in class or at home. Remember if you are quarantining from COVID and are NOT sick you must do the assignments.
If you have any questions just let me know. THANKS MUCH! MM

Due:

Sep 24 and 25  Interactive ASSESSMENT (test)  in Google Classroom

Sep 24 and 25 Interactive ASSESSMENT (test)

We will discuss this in class.

Easy steps: Go to Spent (link is in document) and try to get to 30 days. If you do NOT get to 30 days on the first try you MUST try a second time. After two rounds you can answer the questions.

Due:

Sept 22 Cartoons  in Google Classroom

Sept 22 Cartoons

Select one of the attached cartoons and jot down notes to answer the following questions (these are your notes to share in class)

What is the main challenge this cartoon delivers about why it can be difficult to save money?
How does this cartoon portray that message?
Did you find this cartoon persuasive? Why or why not?
Bonus: What other techniques could the cartoonist have used to make this cartoon more persuasive?

Due:

Case Study:  Bank on this  in Google Classroom

Case Study: Bank on this

In this Case Study, students will discover bank options available to minors and the three types of institutions that offer checking accounts. They will also compare various checking account options in terms of perks and fees and decide which option is best in a given scenario.

You will have two class periods (Sep 10 and 14) to complete this assignment.

Due:

Exit Ticket Sep 9  in Google Classroom

Exit Ticket Sep 9

Complete after the lecture in class.

Due:

Life Values Quiz  in Google Classroom

Life Values Quiz


Life Values Quiz at: https://www.smartaboutmoney.org/Tools/LifeValues-Quiz/Quiz

You learned about 4 types of “life values” that drive financial behaviors from the first lesson: inner, social, physical, and financial values. Now, imagine the adult version of yourself, and take this quiz to see how your values affect money decisions. After Question 20, you will be brought to a page titled, “Life Values Profile Quiz Score.” Before clicking the “Interpret Your Results” button, complete the table provided with your 4 scores. Then, answer the questions.
Before clicking “Interpret Your Results”, enter your 4 scores in the table below.
Life Value

Due:

Policies and Procedures  in Google Classroom

Policies and Procedures