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Mount Laurel, NJ:Understanding Taxes for Beginners

By
Industry Observer with OnPoint Resolution LLC

Today, we're going to explore the world of taxes. It might sound complicated, but it's actually quite interesting. We're going to learn about two types of taxes: Payroll Tax and Income Tax. Let's break it down into simple terms.

What is Payroll Tax?

Imagine you have a piggy bank where you save money from doing chores. If that piggy bank was like your paycheck, payroll tax would be a small part taken out of it before you even get it. This money goes to important things like healthcare for older people. It's like sharing a bit of what you have to help others.

What is Income Tax?

Now, let's talk about income tax. This is like when you count all your birthday money. The more money you have, the more you share as tax. If you have less, you share a smaller amount. This tax changes based on how much you earn.

Why Should You Know This?

Knowing about these taxes is important. If you understand them, you won't be surprised when some of your money goes to these taxes. It's a part of being smart with your money.

For Our Young Entrepreneurs

In Mount Laurel, NJ if you're making money by selling lemonade or doing extra chores, you're like your own boss. That means you need to think about these taxes more. You have to take care of both payroll tax and income tax.

Here's a Cool Tip!

Taxes might seem complicated, but they are really not. Learning a little at a time can make a big difference. And you're already doing that!

Want to Learn More?

If you want to learn more about taxes, we have something great for you! Download our FREE report at www.stoptheirsnightmare.com . It's full of easy explanations and helpful tips to help you understand taxes better.

Remember, understanding taxes is like discovering a new part of a big puzzle. The more you know, the better you'll be at managing your money. Let's learn and grow together!

Fanta Kaba

OnPoint Resolution LLC

309 Fellowship Road, suite 200

Mount Laurel, NJ 08054

Tel. 973.840.7350

www.onpointresolution.com