Where Did Half My Paycheck Go? A Family's Guide to Tax Talk

26/04/2025 7 min Temporada 1 Episodio 15
Where Did Half My Paycheck Go? A Family's Guide to Tax Talk

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Episode Synopsis

Send us a textTaxes are portions of our income and purchases that fund essential public services and infrastructure in our communities. We break down the concept of taxes for families and kids, explaining how they work at local, state, and federal levels to support resources we use daily.Different types of taxes include sales tax on purchases and income tax on earningsTaxes fund community resources like parks, libraries, schools, and first respondersChildren often experience "paycheck shock" when first seeing taxes deductedParents can simulate taxes with allowances to prepare children for future earningsVITA centers (Volunteer Income Tax Assistance) provide free or low-cost tax helpThis week's family challenge: Discuss things in your community that you enjoy that are paid for by taxes, such as public beaches, parks, or libraries.Federally Insured by NCUA. For more information and resources, visit PremierAmerica.com/youth