Posted: Monday, October 7, 2019
In recognition of National Payroll Week, members of the Upstate Chapter of the American Payroll Association visited high schools to educate young adults about taxes and how they affect their paychecks. Topics included important information about the payroll withholding system, how paychecks are calculated, and the pros and cons of various payment methods.
Students learned how to fill out a Form W-4 as well as how and why payroll taxes are withheld from their paychecks. The goals of the Money Matters Financial Literacy Program are to give students knowledge and understanding to improve their money management skills, save for the future, and put more money in their pockets with each paycheck.
“We aim to take the shock out of the tax withholding system for teens in the workforce,” said Cyndi Bryson, president of the Upstate Chapter of the American Payroll Association.