Income & Taxes

Overview

This chapter focuses on understanding income sources and the U.S. tax system. Students will learn how to interpret paychecks, understand tax withholding, and navigate the basic tax filing process. We'll cover tax forms, deductions, credits, and strategies for tax-efficient financial planning. Students will gain practical knowledge about fulfilling tax obligations while optimizing their after-tax income.

Topics Covered

• Understanding paychecks and withholding
• Filing tax returns
• W-4 and W-2 forms
• Standard deductions vs. itemizing
• Tax credits vs. deductions
• State and local taxes
• Tax planning basics