Understanding taxes and your paycheck
Students analyze statements about taxes to better understand how taxes affect people’s paychecks.
Big idea
Understanding why and how taxes and other items are deducted from a worker’s paycheck is an important step toward gaining financial knowledge.
Essential questions
- What are taxes and why do we pay them?
- How do taxes affect the money a person receives in their paycheck?
Objectives
- Understand what taxes are deducted from our paychecks
- Understand how these deductions affect our paychecks
What students will do
- Determine which statements about taxes are true and false.
- Participate in a class discussion about taxes and paychecks.
Download activity
Teacher guide
cfpb_building_block_activities_understanding-taxes-paycheck_guide.pdf
Student materials
cfpb_building_block_activities_understanding-taxes-paycheck_worksheet.pdf
cfpb_building_block_activities_taxes-understanding-basics_handout.pdf
Note: Please remember to consider your students’ accommodations and special needs to ensure that all students are able to participate in a meaningful way.