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# Learning About Taxes - PowerPoint PPT Presentation

Learning About Taxes. What are taxes? How do you know how much to pay in taxes? What are taxes used for?. Step One: Your Mission.

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## PowerPoint Slideshow about ' Learning About Taxes' - tashya-jimenez

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### Learning About Taxes

What are taxes?

How do you know how much to pay in taxes?

What are taxes used for?

• You are going to visit the Ben and Jerry’s ice cream shop. Each tub of ice cream costs \$1.00. You have \$5.00 to spend. BUT you must pay taxes on what you buy. This is called “sales tax.”

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• To make sure you don’t spend more than your \$5.00, you need to open this excel spreadsheet. When you decide what kind of ice cream to buy, type in the name, the number you want, and the cost for one tub (\$1.00). The spreadsheet will calculate the total cost for that type of ice cream.

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• Make your ice cream choices by going to the Ben & Jerry’s website. Remember, each type of ice cream costs \$1.00, but you have to leave enough money for taxes at the end!

• Enter your choices on the Excel spreadsheet.

• When you are done making choices, use the sum function (S) to add up to the cell that says “Subtotal.”

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• Now it’s time to figure out how much you have to pay in taxes.

• Go to the Tax Calculator website. Choose Boone County, then enter the amount you have spent and click “Calculate.”

• Enter the correct amount of tax in the spreadsheet in cell D9, then add that to the subtotal you figured in Step Three.

• Have you stayed below your limit of \$5? If not, you will have to take out some of your choices.

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• Now that you have some experience about how taxes work, it’s time to answer the questions, “Why do we have to pay taxes?” and “Where does the money go?”

• Follow this link to learn about what taxes are used for. Answer the questions and read the information on this quiz.

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• Now that you know why you pay taxes, and how the taxes help you, you won’t want to complain next time you have to pay taxes at the store!