The document discusses factors related to filing taxes and take-home pay for teens. It provides information on the typical age of taxpayers, with the highest percentage being 25-44 years old. It notes the jump in filers between under 18 and 18-26 is likely due to entering the workforce. Additional topics covered include reasons to file even if not required, types of income (earned vs unearned), and whether certain groups like dependents or self-employed should file. Interactive elements engage the reader in self-assessing their tax knowledge.

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. Most Current Tax Year 2021(filing in 2022)

8. 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?

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

11. 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

12. 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
$320.00

13. 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.