The document discusses various topics related to taxes, including: - The age group that represents the highest percentage of taxpayers in 2018 is 25-44 years old. Younger age groups have seen sharper increases in taxpayers from 2008-2018. - There are four requirements to determine if you must file a tax return: age, filing status, dependency status, and annual gross income. - It may be beneficial to file a tax return even if you don't meet the requirements in order to receive tax refunds from withholdings or credits you're eligible for. - The federal government will not reach out to you if you are owed a tax refund - you need to file to receive any refund.

1. Describe Factors Affecting
Take-Home Pay Such as Tax
Withholdings, Benefits, and
Plan Payroll Deductions
Education, Careers, and Income

2. Teens & Taxes

3. How Old Are Most Taxpayers?
● What age group represents the
highest percentage of
taxpayers in 2018?
● What age groups have seen the
sharpest increase as a
percentage of taxpayers from
2008 to 2018?
● What do you think causes the
percent of filers to jump so
dramatically between the
under-18 group and the 18-26
group?

4. 2 Reasons To File Taxes Even If You Don’t Have To
The four requirements used to determine if you
must file a tax return are listed below.
• Age:
• Filing Status:
• Dependency status (Can someone claim you as a dependent on
their tax return?):
• Annual Gross Income:
Why might it be beneficial to file a tax return even
if you don’t meet the requirements to file?
True or False: The federal government will reach
out to you if you are owed a refund.
Click Here

5. Earned Income/Unearned Income
Interest – checking, savings, loans
Dividends – company profits (stocks)
401k, pension, annuity, inheritance,
Lottery, VA benefits, property income

6. Earned vs Unearned Income
See How Much You Know!
Click Here

7. 1.How does your tax knowledge
compare to the majority of the teens’
tax knowledge in the video?
2. As you learned in the video, there is
no specific age requirement to pay
taxes.
• Why, then, do you think there is a
lack of awareness and general
knowledge about taxes among
teens?
How Much Do You Know About Taxes?

11. Most Current Tax Year 2021(filing in 2022)

13. Should I File an Income Tax Return If
Claimed as Dependent?

14. Self-Employed Workers Household Employees
Sole proprietor or independent contractor,
In business for yourself (part-time)
Plumbers, carpenters, repair workers
Self-employment tax (SECA) =
15.3% on earnings
Paid to provide a service within employer’s
residence - Babysitter, nannies, gardeners

15. Should They File a Tax Return?
YES
No, he didn’t make more
than the minimum - $12,400
Yes, he would likely get
a refund on taxes
withheld from paycheck

16. Exit Ticket
Complete the following sentence:
• How much you pay in taxes depends on?
True or False:
• You do not need to pay taxes if you earn income in cash.
What is the benefit of filing a tax return even if you didn’t make enough
money?
True or False:
• The federal government will reach out to you if you are owed a
refund.