Georgia standard · Social Studies

`SSPFL1`Sources and Variables of Income

Evaluate various sources of income and analyze variables that affect a person’s income.

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Expectations

SSPFL1.a
Analyze income as a scarce resource that must be allocated.
SSPFL1.b
Compare different types of income including hourly wages, salary, tips, independent contractor services (Form 1099), dividends, and capital gains.
SSPFL1.c
Analyze how career choice, education, skills, and economic conditions are related to income and levels of unemployment
SSPFL1.d
Describe how income taxes affect disposable income.
SSPFL1.e
Review and complete a sample federal individual income tax form 1040EZ or 1040A.
SSPFL1.f
Describe the basic components of a pay-stub including gross pay, net pay, and common deductions (i.e. federal and state income tax, Federal Insurance Contributions Act (FICA – which includes Social Security and Medicare), and elective deductions like insurance and tax-deferred savings).

No Georgia Milestones blueprint cites this standard.