Understanding Taxes - Activity 2: Financial Recordkeeping

Theme 6: Understanding the IRSLesson 2: Your First Job

Activity 2: Financial Recordkeeping

Collage of laptop, receipt book and envelopes.

Below are five people who need help with financial recordkeeping. Use the drop-down menu to match each person with the best record-keeping option. To assess your answers, click the Check My Answers button at the bottom of the page.

Zhang just started a new job. He brought home the worksheet part of the Form W-4 he gave to his employer.
Rebecca got a computer as a graduation present. It came with a financial planner and record-keeping program. Now she wants to record her expenses and income to see if she can afford an apartment of her own.
Eric is keeping track of how much gas and oil his old car is eating, along with records of all the repairs he has needed lately. If his records show that his car is getting too expensive to keep, Eric plans to make a visit to the used-car lot.
Ashley deposited her paycheck in her checking account.
Rodriguez wants to know how much he spent on holiday gifts last year so that he can plan how much to set aside for this year. Now if he could just remember where he put those receipts from last year . . .