Help her set up a system for keeping accurate records.

Have your teen file her tax forms in a safe place. Help her set up a system for keeping her own financial records. Does she have a bank account? Where do the statements go?

Make 12 file folders, one for each month. Keep them in a small file cabinet or a cardboard box. Each month, put financial records in the folder.

Then when it’s time to file, help your teen prepare her tax return. Have her double check figures against her records.

Preparing a tax return is something your teen will need to do throughout adult life. Establishing a good system of keeping records now will make the process easier.

Copyright © Parent Institute