Income and Income Taxes

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What is gross pay?

Back

Gross pay is the total amount of money earned before any deductions, such as taxes or insurance.

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CCSS.6.RP.A.3B

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How do you calculate gross pay?

Back

Gross pay is calculated by multiplying the hourly wage by the number of hours worked.

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CCSS.7.EE.B.3

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If you earn $9.50 an hour and work 15 hours, what is your gross pay?

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$142.50

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CCSS.7.EE.B.3

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What is net pay?

Back

Net pay is the amount of money you take home after all deductions have been made from your gross pay.

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CCSS.7.RP.A.3

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How do you calculate net pay?

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Net pay is calculated by subtracting total deductions from gross pay.

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If your gross pay is $400 and your tax rate is 15%, what is your net pay?

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$340.00

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CCSS.6.RP.A.3C

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What is a deduction?

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A deduction is an amount of money that is subtracted from your gross pay, such as taxes or health insurance.

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CCSS.6.NS.C.7C

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If your gross income is $550 and your deductions total $132.50, what is your net income?

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$417.50

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CCSS.5.NBT.B.7

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What is an income tax?

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Income tax is a tax imposed on individuals or entities based on their income or profits.

Front

If you make $9.00 an hour and work 20 hours, what is your gross pay?

Back

$180.00

Tags

CCSS.7.EE.B.3