Taxes: How Do They Work, What Forms You Need, How to File (Flex)
In this 5-week flex course, students will use the interactive platform Nearpod to learn how taxes work in the United States, what tax forms are needed to file, and how to file taxes.
Brooke Martinez
Average rating:
4.9
Number of reviews:(37)
What's included
Assessment
Exit ticket at the end of the lesson.Class Experience
This 5-week flex course will cover how taxes work in the United States, what tax forms are needed to file, and how to file taxes. This course will be filled with hands-on learning! My course is a great way to prepare students for handling their own finances! Many learners start with little knowledge about handling finances. After the course, they will grow to enjoy learning about money and will be much more confident in their finances! This course will include presentations, videos, reading, writing, activities, and projects. I'm a firm believer in creating engaging learning experiences. I'm excited to begin a journey of discovering finances with your learner! Students will collaborate through the Outschool platform through various projects including: A Turbotax simulation, Tax Forms & Their Purposes, and Analyzing if People in various scenarios should file a tax return. A Nearpod will be provided for each week of the course. There will be multiple interactive activities throughout the lesson so students can synthesize what they are learning and keep track of it. I will ask students to share their work with me and/or the class and give them feedback on this work. I will pose a weekly discussion question for students to answer in the classroom or Nearpod via video, picture, or chat and I will ask that classmates respond to each other's submissions. There will also be a review quiz after each lesson on Nearpod as a check for understanding. Agenda: Week 1: The U.S. Tax System *Why Do We Pay Taxes *How Taxes Affect Your Paycheck *What Your Tax Dollars Pay For *How Tax Brackets Work Week 2: Important Tax Forms *Tax Forms and Their Purpose *W-4 *W-2 *The Tax Cycle Week 3: Do I Need to File a Tax Return? *Reasons to File Taxes Even if You Don’t Have To *Earned Income vs. Unearned Income *When Do You Need to File a Tax Return? Week 4: Filing Your Taxes *Tax Prep Checklist for Teens *Tax Deductions vs. Credits *How to Complete a 1040 *Ways to Maximize Your Tax Refund Week 5: Dive Deeper Into Taxes *Standard vs. Itemized Deductions *Popular Tax Breaks *Tax Tips With Multiple Jobs *Taxes for Independent Contractors Keywords: financial literacy for students, financial literacy for beginners, financial literacy course, financial literacy for kids, importance of financial literacy for youth, why is financial literacy important, financial literacy program, taxes due, taxes usa, taxes calculator, filing taxes, taxes online, turbo tax, personal finance program, personal finance for students, personal finance for beginners, personal finance course, personal finance for kids, importance of personal finance for youth, why is personal finance important, personal finance program, personal finance basics, personal finance topics
Learning Goals
Week 1: The U.S. Tax System
-Explain where income taxes are collected from and how they provide revenue for public expenses
-Describe how the progressive tax code, current tax brackets, and different taxes between states lead to individuals paying varying amounts of taxes
Week 2: Important Tax Forms
-Distinguish between common IRS forms and determine when and how each form is used in the tax cycle
-Explain the purpose of a W-4 and how withholdings impact your paycheck
-Carefully read the details of a W-2 form
Week 3: Do I Need to File a Tax Return?
-Understand the factors that determine whether or not someone has to file a tax return
-Explain what a dependent is and establish if they can be claimed as a dependent by someone else on their tax return
-Determine whether someone has to file a tax return based on their specific situation
Week 4: Filing Your Taxes
-Identify what they need to file their tax returns
-Distinguish tax credits from tax deductions and understand how they can lower their overall tax burdens
-Complete a 1040 form to file their tax returns
-Explain how to pay back any taxes they owe or how to maximize a tax refund
-Identify fees and penalties they will incur if they fail to file a tax return or pay back taxes owed
Week 5: Dive Deeper Into Taxes
-Decide when it is best to itemize their deductions and when to take the standard deduction
-Differentiate between employees, contractors, and freelancers, and how that status affects their taxes
-Understand the tax implications of taking on multiple revenue streams
-Choose which types of investment accounts are best for their current and future tax situations
Other Details
External Resources
Learners will not need to use any apps or websites beyond the standard Outschool tools.
Joined March, 2021
4.9
37reviews
Teacher expertise and credentials
Utah Teaching Certificate in Secondary Education
I am from the United States and have been teaching various business, marketing, and finance courses for 13 years. I have taught both at the high school and collegiate level. I teach both in person and online but online is my favorite! I have a Bachelor's degree in Marketing and Business Information Technology Education, a Masters in Business Administration and a PhD in Online Education.
I am very excited to work with all of you through Outschool!Reviews
Live Group Class
$5
weekly or $25 for 5 weeks5 weeks
Completed by 3 learners
No live video meetings
Ages: 14-18
