Showing posts with label Income Taxes. Show all posts
Showing posts with label Income Taxes. Show all posts

Wednesday, April 15, 2020

Lessons About Income Taxes

In most years today would be the deadline for Americans to file their income tax returns. This year that deadline has been extended to July 15th because of the COVID-19 pandemic. I already had these resources ready to go for this week so I'm going to share them now rather than wait until July.

What are tax brackets?
Tax brackets are not as straight-forward as they seem on paper or in political debates. Vox offers a concise explanation of what tax brackets are and how they work. Money Coach also provides a good explanation of tax brackets although that explanation is longer with a bit more nuance.






Do you need to file a tax return?
If you teach high school students like I do, some of them may be filing taxes (or having parents do it on their behalf) for the first time. Doing that can lead to all kinds of questions about why we have taxes, the way taxes are calculated, and types of taxes. Money Coach has two videos that do a good job of explaining why you have to file a tax return and how to do it.




The concept of an income tax.
Crash Course offers a video that explains the origins of income taxes and a general explanation of how money collected from income taxes is used.



Income tax lesson plans.
PBS Learning Media offers a free lesson plan through which students learn about reasons for taxes being withheld from paychecks, where the withholdings go, and why some people have more or less withheld than others. In addition to helping students understand taxes withheld from paychecks Taxes - Where Does Your Money Go? introduces students to concepts related to saving for retirements. To that end, the lesson plan includes a video about how a self-employed person handles budgeting for taxes and retirement.

Create Lessons With These Videos
EDpuzzle is my favorite tool for creating lessons with videos that I find on YouTube. In the video below I demonstrate how you can use EDpuzzle to create your own lessons with videos that you find on YouTube.

Sunday, April 14, 2019

A Few Resources for Learning About Income Taxes

Tomorrow is the deadline to file income taxes in the United States. If you have high school students, some of them may be filing taxes (or having parents do it on their behalf) for the first time. That may lead to all kinds of questions about why we have taxes, the way taxes are calculated, and types of taxes. Crash Course has a twelve and a half minute video in which those questions are addressed.



PBS Learning Media has a free lesson plan through which students learn about reasons for taxes being withheld from paychecks, where the withholdings go, and why some people have more or less withheld than others. In addition to helping students understand taxes withheld from paychecks Taxes - Where Does Your Money Go? introduces students to concepts related to saving for retirements. To that end, the lesson plan includes a video about how a self-employed person handles budgeting for taxes and retirement.

To explain the origins of income taxes in the United States, CBS News hosted author Kenneth Davis. Davis is the author of the popular "Don't Know Much" series of history books.



Thursday, April 12, 2018

A Crash Course in Taxes

The deadline to file income tax returns here in the U.S. is less than one week away. If you have high school students, some of them may be filing taxes (or having parents do it on their behalf) for the first time. That may lead to all kinds of questions about why we have taxes, the way taxes are calculated, and types of taxes. Crash Course has a twelve and a half minute video in which those questions are addressed.


At over twelve minutes long this is one of those videos that despite being full of good information, students will tune out unless given some specific things to watch for in the video. EDpuzzle and TES Teach are good tools that you could use to build some questions into the video before you share it with your students.

Wednesday, April 15, 2015

A Few Resources for Learning About Taxes

Today is the deadline to file and pay your income taxes here in the United States. This is a good time to share some resources for helping students understand the history and purpose of income taxes. And good luck to everyone who is scrambling to file their tax returns today. (This is the first time in years that I'm not scrambling to file on time).

To explain the origins of income taxes in the United States, CBS News hosted author Kenneth Davis. Davis is the author of the popular "Don't Know Much" series of history books.



CNN's Explain It To Me video about the "Buffett Rule" explains why sometimes the super rich don't pay as high a percentage of their income in taxes as the rest of us.

To see how tax revenue is distributed is What We Pay For. What We Pay For uses publicly available tax data to show you how your tax money is appropriated. On the left side of the screen you will see the total revenue and appropriations for the entire United States. On the right side of the screen you can enter your filing status and pre-tax earnings for the year to see the approximate amount you will pay toward US budget items. You can enter your pre-tax earnings as an annual figure, monthly figure, weekly, daily, or hourly wage.

The IRS website, Understanding Taxes, is a good source of lesson plans and individual learning materials about taxes and budgets. In the teacher section of the site you will find lesson plans like this one (opens as pdf) designed to teach students about services for which tax revenue is used.

Finally, for a retro lesson on taxes take a look at the School House Rock Tax Man Music Video.