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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.

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.

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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