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Topic: Business taxes 

Business Education

 Standard 2.  Understands and applies payroll theories and procedures
  Level IV (Grade 9-12)
   Benchmark 3.Calculates deductions (e.g., federal income tax, Social Security tax, Medicare tax, state income tax)
    Knowledge/skill statements
     1.Calculates deductions for federal income tax
     2.Calculates deductions for Social Security tax
     3.Calculates deductions for Medicare tax
     4.Calculates deductions for state income tax
   Benchmark 4.Calculates employer’s payroll taxes (e.g., Social Security, Medicare, federal, unemployment, state unemployment)
    Knowledge/skill statements
     1.Calculates employer’s payroll taxes for Social Security
     2.Calculates employer’s payroll taxes for Medicare
     3.Calculates employer’s payroll taxes for federal unemployment
     4.Calculates employer’s payroll taxes for state unemployment
 Standard 14.  Uses basic mathematical operations to solve business problems
  Level IV (Grade 9-12)
   Benchmark 1.Computes various taxes (e.g., individual income, property, sales, employer, employee)
    Knowledge/skill statements
     1.Computes individual income taxes
     2.Computes property taxes
     3.Computes sales taxes
     4.Computes employer taxes
     5.Computes employee taxes
   Benchmark 8.Makes inventory record computations (e.g., determine inventory valuation; calculates cost in relation to inventories using purchase prices, transportation costs, taxes)
    Knowledge/skill statements
     1.Makes computations to determine inventory valuation
     2.Makes computations to calculate cost in relation to inventories using purchase prices
     3.Makes computations to determine transportation costs
     4.Makes computations to determine taxes