Taxes, Income & Deductions
📋 What it is
Taxes are a percent of income (or purchases) that fund public services.
🗣️ Coach says
Taxes are a slice of money that goes to pay for shared things — roads, schools, hospitals. Income tax takes a percent of what you earn; sales tax adds a percent at the till. It's percent maths with a civic purpose.
🧠 Memory hook
Tax = a percent taken for public services. Take-home pay = income − tax.
😂 Giggle
What did the entrepreneur say to the investor?
"I've got the idea — you've got the capital — let's make a profit!"
😲 Whoa!
The money for public libraries, parks and fire services comes largely from taxes — small percents from many people add up hugely.
✅ Quick check: You earn $100 and pay 10% income tax. What is your take-home pay?
Say your answer out loud first — then reveal.
$90 — 100 minus 10% (which is $10).
Take-home pay is income minus the tax percentage.
🧪 Try it! (2 minutes)
Add 10% sales tax to a $20 purchase (find 10%, then add).