1 / 7

Learning About Taxes

Learning About Taxes. What are taxes? How do you know how much to pay in taxes? What are taxes used for?. Step One: Your Mission.

tashya-jimenez
Download Presentation

Learning About Taxes

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Learning About Taxes What are taxes? How do you know how much to pay in taxes? What are taxes used for?

  2. Step One: Your Mission • You are going to visit the Ben and Jerry’s ice cream shop. Each tub of ice cream costs $1.00. You have $5.00 to spend. BUT you must pay taxes on what you buy. This is called “sales tax.” NEXT

  3. Step Two: Getting Ready • To make sure you don’t spend more than your $5.00, you need to open this excel spreadsheet. When you decide what kind of ice cream to buy, type in the name, the number you want, and the cost for one tub ($1.00). The spreadsheet will calculate the total cost for that type of ice cream. NEXT

  4. Step Three: Make Your Choices • Make your ice cream choices by going to the Ben & Jerry’s website. Remember, each type of ice cream costs $1.00, but you have to leave enough money for taxes at the end! • Enter your choices on the Excel spreadsheet. • When you are done making choices, use the sum function (S) to add up to the cell that says “Subtotal.” NEXT

  5. Step Four: Figure the Tax • Now it’s time to figure out how much you have to pay in taxes. • Go to the Tax Calculator website. Choose Boone County, then enter the amount you have spent and click “Calculate.” • Enter the correct amount of tax in the spreadsheet in cell D9, then add that to the subtotal you figured in Step Three. • Have you stayed below your limit of $5? If not, you will have to take out some of your choices. NEXT

  6. Step Five: Why Pay Taxes? • Now that you have some experience about how taxes work, it’s time to answer the questions, “Why do we have to pay taxes?” and “Where does the money go?” • Follow this link to learn about what taxes are used for. Answer the questions and read the information on this quiz. NEXT

  7. All Finished! • Now that you know why you pay taxes, and how the taxes help you, you won’t want to complain next time you have to pay taxes at the store!

More Related