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Welcome to W4 & Taxes !

Ambassador of Kid Buxx

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When you become 18 you will be expected to complete this form if you want a job..
Your boss will not need to explain what this is, you will already know.

What is a W-4?

A W-4 is a form the worker fills out and gives to the tax people at the IRS (Internal Revenue Service). 

to learn more about the W-4 click here

The W-4 form is used by the IRS to decide how much tax you pay depending on your tax bracket.

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What is “tax” ?

Tax is a charge to the worker.  This money is collected from your paycheck and sent to the IRS to pay for schools, bridges and other things need for the community.

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What is "IRS" ? 

"IRS" stands for Internal Revenue Service. They are in charge of your taxes. Everyone pays taxes.

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LET'S GET STARTED !

During your Kid Buxx journey you will be taxed up to 25% of your earnings which depend on your level of responsibility, selected on the W-4 form (calculators are allowed).

This is very similar to the real life tax and form. Your taxes will be held as an employee and in a tax reserve account managed by your parent or guardian.

YOUR 1ST STEP INTO FINANCIAL LITERACY !

Understanding Your Tax Bracket
(How much you pay the IRS)

See below for your tax bracket (or group):

 

TAX BRACKET # 1

2+ brothers or sisters = 5% tax is what I have to pay from my check

 

TAX BRACKET # 2

1 brother or sister = 10% tax is what I have to pay from my check

 

TAX BRACKET # 3

Myself = 20% tax is what I have to pay from my check

 

TAX BRACKET # 4

Myself if I’m 18 years old = 25% is what I have to pay from my check

SELECTING YOUR TAX BRACKET

Check your tax bracket (aka your area of responsibility) (check only one) :

3 QUESTION QUIZ & FEEDBACK

Thank you for answering those questions and taking the 1st steps to learning about Financial Literacy !

Select the "Enter" button below to complete the introduction to the W4 !

JOURNEY INTRODUCTION

GREAT JOB !

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