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Work and Taxes

Most families have one or more family members working. If you or a loved one loses a job, you'll need resources to assess your current situation and try to make the best use of the money you have. Understanding how taxes work and maximizing tax credits is one strategy for saving more of the income you earn throughout the year.

The following resources will help you find options when income changes, and better understand taxes and tax credits.

Dollar Works 2 Worksheets

Spending Plan — Short FormDollar Works 2 Action Page 3-4 — Budgeting can help a bad situation from getting worse. Use this form to track your income and expenses.

Federal Poverty Guidelines (2015) (200 KB PDF) — Dollar Works 2 Action Page 3-6 — This easy-to-use chart helps you see if you qualify for any federal or state assistance programs based on your income level and household size. English (35 K PDF) | español (67 K PDF)

Other Recommended Resources

Adjusting to Suddenly Reduced Income (9.9 MB PDF) — Take into account the financial, emotional, and social aspects of sudden income loss.

Deciding if Teens Should Work — Weigh the pros and cons of whether your teen should work when the family falls on hard financial times.

Teen Talk Fact Sheet: I Need to Get a Job (679 K PDF) — Fact sheet discusses how a job can have positive and negative consequences for teens. Also available in Spanish (316 K PDF).

Disaster Recovery — Resources for families who are experiencing, avoiding, or recovering from tough times. Materials for farm families, stress, disaster recovery, and more.

Dollar Works 2 — Teach others how to manage their personal finances and make sound decision about money. This comprehensive curriculum has a unit on Understanding a Pay Statement and Taxes.

Tax Topic IndexUnited States Department of Internal Revenue Service — Answers to common questions; includes individual and business tax information.

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