Demystifying Taxes
⬇ Download Teacher GuideThis lab teaches the basic concepts of taxes, paystub analysis, why taxes are essential, calculating taxes, types of taxes, tax filing, etc. using interactive digital activities. The lab is divided into three sections
- Basics of Taxes
- Tax Filing
- Conclusion
In the section "Basics of Taxes", students will learn about -
- What are taxes
- Interactive worksheet to categorize government spending in a year and calculate the total in each category.
- Interactive worksheet to analyze the paystub of an employee.
- How the government uses the tax money
- Types of Taxes
- Income tax in detail
- Interactive worksheet to familiarize & calculate progressive tax
- Taxable income and deductions
- Income tax calculation worksheet.
In the section "Tax Filing", students will learn about -
- Filing taxes
- Interactive worksheet to analyze W-2
- Interactive worksheet to use the W-2 and fill out Form 1040
- Research and Writing activities
In the conclusion section of the lab, students will write a letter to the state representative suggesting three changes in how tax money is used.
Student Feedback
I will remember that there are over a trillion dollars spent in taxes to the federal government each year.
The government takes the amount of taxes they do for a reason, yeah it can add up for people who are struggling but it is necessary or else we wouldn't have a lot of the things we need.
What I remember the most from this lab is what the government pays money towards. I remember that the government pays the most money towards defense.
The thing I will remember most is how to use the tax bracket to see how much I'll own in taxes.
I will remember most about how income tax works
what happens with all the tax money
that taxes are a massive part of life and you need to pay them
The way a paycheck looks and works
How taxes are taken from your income. However, I wish this would have been Canadian information rather than American because it would have been more relevant.
I for sure learned a lot about taxes.
the different types of taxes
How much money we give away in taxes.
sales and property tax.
I learned a lot about the types of taxes and how much they generally are.
how tax brackets work
I would remember doing the labs and learnig how to do taxes.
I remember the tax income percentages.
the tax forms
Progessive tax calculation
I will remember the interactive papers (W-2? and tax brackets) most. This is partially because I struggled with them, but they were also a good way to show realistic numbers.
i will remeber trying to find the procedure to calculate taxes.
How to do taxes and the different types of taxes.
All of the different types of taxes.
Progressive tax, where federal taxes go to, the information in a W-2
How the calculated progressive tax amounts.
the definitions of forms and taxes
Progressive tax
Writing the w2 forms (very good very nice)
