Info+on+Taxes

Intro scene...Kids' Guide to Taxes! (brief video setting the scene)

What are taxes? [] Kids can scroll down to find the definition of "taxes." Have them write down (or record on their worksheet) the 2 main kinds of taxes (income and sales) and summarize the definition of taxes.

Why do we pay taxes? [] What are taxes used for? Quick reminder of some gov't services paid for by our tax money. Again, on the worksheet, students list 5 services provided by tax money.

A quick practice with Sales Tax. Set up the scene for a visit to Dollar Tree. Intro Indiana tax of 7 cents per dollar. (find an activity where kids can put things in their cart and figure their own sales tax? )

Now, suggest buying things of a variety of costs. They'll need to use their sheet to add together the prices of 3 items they choose to buy. Then, they can use the sales tax calculator [] They'll need to enter the cost, the tax rate (.07), and get the total cost. Record on sheet.

Practice with Income Tax. Explain that in this example, income tax will be 10% of what they make. 10 cents for every dollar. Some activity where kids choose a "chore" to do. Before they can get paid, they have to pay their income taxes.

Address the fact that income and sales taxes are not popular and many adults complain about them BUT, we need them to provide all of the services available to us. Another reminder of these services. Possibly a "what if these services weren't provided?"

More resources I've found that may or may not be helpful:

[] has a 3rd grade game that looks good, but there's a $30/year subscription fee. [] [] Lots of great information, but at too high of a level for our group [] some good info [] videos on taxes [|www.unitedstreaming.com] user: lisawells1 pw: nasc [|www.teachertube.com] [|www.bensguide.gov] [|www.schoolhouserock.com] [] [] [] [] []