Skip to Main Content
It looks like you're using Internet Explorer 11 or older. This website works best with modern browsers such as the latest versions of Chrome, Firefox, Safari, and Edge. If you continue with this browser, you may see unexpected results.

A Personal Finance Primer: Taxes

This LibGuide is a guide to adulting. It will support every single aspect of your adult life.

Tips & Tricks for Adulting

Some words of wisdom about taxes

  • When you get a paycheck, you have 2 kinds of income:
    • Gross--Your salary or (# of hours worked) x (pay rate) BEFORE TAXES
    • Net--The amount you "take home" after taxes have been deducted  AFTER TAXES
  • There are 3 kinds of tax:
    • Federal (levied by the Internal Revenue Service [IRS])
    • State (levied by the state in which you work)
    • Local (levied by the city. NYC is one of 14 cities that levy taxes from income)
  • Don't forget FICA which is a tax that funds Social Security and Medicare
  • The 15th of April is Tax Day in the United States.  Your tax form must be postmarked by 11:59 PM on that date. 

Finance Databases

Tax Hacks (legal ones)

Breaking Taxes Down

A Must-Use