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Kevin Fischer is an award-winning veteran broadcaster who has been seen and heard on Milwaukee TV and radio stations for nearly three decades.
Kevin, who is a legislative aide to state Sen. Mary Lazich (R-New Berlin), can be seen offering his views on the news on the public affairs program, “InterCHANGE,” on Milwaukee Public Television Channel 10, and heard filling in on Newstalk 1130 WISN. He lives with his wife, Jennifer, and their baby daughter, Kyla Audrey, in Franklin.

Teach your teens about taxes

By Kevin Fischer
Tuesday, Mar 18 2008, 07:50 PM

The vast majority of teenagers, and I would venture to say a large number of twenty-something’s are clueless when it comes to the issue of taxes.

This is extremely important because these young people vote.

The president of the Charles Schwab Foundation, Carrie Schwab Pomerantz says that if you’re a parent and have teens, it’s high time you sit down and have a chat about the T-word.

Her advice?

Show them your pay stub. Let them see the chunk of income the government swipes away.

Show them your tax return, line by line. I love this one: Explain why a refund isn’t a windfall.

Help them with their own tax return.

As Schwab Pomerantz says, who better to teach them about taxes than you, Mom and Dad?

Here’s Schwab Pomerantz’s column
.

Comments

Janet Evans   

Some real insight would be to let the "teen" pay part of the parent's taxes.  As in....you don't always get a refund.

March 18, 2008 9:08 PM

Orv   

You have to be kidding? I had a hard enough time trying to get them to pay rent when they were living at home.

March 18, 2008 9:17 PM

Fred Keller   

I remember my daughter bringing home her first paycheck and whinning about how much her Uncle Sam took from her check.  I told her wait until you buy a new car, a house, and pay property taxes.  It only gets worse, sweetie, it only gets worse.  It's funny how some kids get it, sort of, and others are just oblivious to the government taking and spending, and wasting, our hard-earned money.

March 19, 2008 7:34 AM

No Runny Eggs » Blog Archive » The Morning Scramble - 3/19/2008   

Pingback from  No Runny Eggs  » Blog Archive   » The Morning Scramble - 3/19/2008

March 19, 2008 8:01 AM

Bryan Maersch   

The school system should really teach a reality based course (similar to the stock market project they have in the middle school) to show them how much income is left after they are done paying all the taxes. Not just from their jobs. Let's not forget the hidden taxes that the State calls fees.

Even if your kids have three small part time jobs, until they start paying 100% of their own way, they won't have a concept of all the taxes and expenses we parents pay.

I guess it is partially our generation's fault for bring up the "ME" generation.

March 19, 2008 4:40 PM

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