Kids learn lots of subjects at school… science, english, math, music, art… But, personal finance, accounting, and how taxes work is unfortunately currently not one of them.
However, kids might not miss out on this lesson entirely because every year on Halloween, Dads seem to take it upon themselves to teach their children a little bit about how taxes work. By, you guessed it, collecting Dad Tax on their precious Halloween candy.
What is Dad Tax?
Much like the way the government collects taxes on the income we make each year in order to improve communities and keep programs running, Dads collect tax on their kids’ Halloween candy in the form of their favourite sweets and treats… For the betterment of the household? To keep themselves running? To make up for the years of Halloween costumes purchased? To remind them who’s boss? Just because?
In this video, we have Steve’s daughter guest starring and graciously donating some of her own hard earned treats to the cause (just not coffee crisps though). Dad tax is all in good fun, but she even learned a little bit about how “adult taxes” work. Steve teaches her about the different tax brackets and we even learn a little about how write-offs work.
We hope you enjoy the video and even learn something you might not know about taxes! Nothing too complicated this week, but this video does breakdown the tax system in a super simple and fun way. Share it with your family to help everyone learn a little about finances and how taxes work! And if you’re a parent… don’t forget to collect your percentage this year. What will it be? Reese’s? Maynards? Kit Kats? Just take your pick!
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