Lesson Plan

“W” Is for Wages, W-4 and W-2

Curated and Reviewed by Lesson Planet

Don't let your young adults get lost in the alphabet soup of their paychecks and federal income taxes. Using sample pay stubs and reproductions of government forms, your class members will identify the purpose of such forms as a W-4 and a W-2, as well as a FICA tax and the difference between gross and net pay. 

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CCSS: Designed
Additional Tags
Instructional Ideas
  • Bring in real copies of the types of forms referenced in this lesson for pupils to see and become familiar with
  • Have students collect the work they are completing in a packet/portfolio that they can reference in the future as they encounter these situations
Classroom Considerations
  • This is the second of nine lessons designed for high school personal finance classes to help students build solid financial knowledge and practices
Pros
  • All worksheets and answer keys included
  • Excellent references and teaching points for the instructor
Cons
  • None