1.8 File Your Taxes

Last updated 22 days ago

52 questions

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OBJECTIVES & STANDARDS
Math Objectives
Calculate percentages
Common Core Math Standards
Link to all CCSS Math
CCSS.PRACTICE.MP6
CCSS.HSN.Q.A.3
Personal Finance Objectives
Differentiate between earned and unearned income
Explain what W-2 and 1099s are used for and how they are different from each other
Explain the difference between a tax credit and a tax deduction
Calculate taxes using US federal tax brackets, deductions, and credits
National Standards for Personal Financial Education
Earning Income
6a: Calculate the amount of taxes a person is likely to pay when given information or data about the person’s sources of income and amount of spending
7c: Differentiate between gross, net, and taxable income
8a: Explain the difference between earned and unearned income
9b: Explain the difference between a tax credit and a tax deduction
DISTRIBUTION & PLANNING
Distribute to students
Student Activity Packet

Instructions

OBJECTIVES & STANDARDS
Math Objectives
Calculate percentages
Common Core Math Standards
Link to all CCSS Math
CCSS.PRACTICE.MP6
CCSS.HSN.Q.A.3
Personal Finance Objectives
Differentiate between earned and unearned income
Explain what W-2 and 1099s are used for and how they are different from each other
Explain the difference between a tax credit and a tax deduction
Calculate taxes using US federal tax brackets, deductions, and credits
National Standards for Personal Financial Education
Earning Income
6a: Calculate the amount of taxes a person is likely to pay when given information or data about the person’s sources of income and amount of spending
7c: Differentiate between gross, net, and taxable income
8a: Explain the difference between earned and unearned income
9b: Explain the difference between a tax credit and a tax deduction
DISTRIBUTION & PLANNING
Distribute to students
Student Activity Packet

Intro

Learn It

MATH CONNECTION - Calculating your Federal Taxes

Exit Ticket

The End!! Vocabulary & Unit Test Tomorrow!!

1.8 File Your Taxes

1.8 File Your Taxes

How many math errors did taxpayers make on tax returns last year?

Does it surprise you that taxpayers make so many errors on their tax returns?

What strategies can you use to avoid making mistakes on your own tax return?

Selena has earned income of $11,000. Does she need to file a tax return? Why or why not?

Andrew did not work last year but won a cash prize at a carnival of $2,500. Does he need to file a tax return? Why or why not?

What is the minimum total pay for independent contractors before you receive a 1099 form?

1099 forms are issued to independent contractors paid by a business but they also can be issued for other purposes. State two other situations that might cause you to receive a 1099.

How many math errors did taxpayers make on tax returns last year?

Does it surprise you that taxpayers make so many errors on their tax returns?

What strategies can you use to avoid making mistakes on your own tax return?

Selena has earned income of $11,000. Does she need to file a tax return? Why or why not?

Andrew did not work last year but won a cash prize at a carnival of $2,500. Does he need to file a tax return? Why or why not?

When should you receive your W-2 form from your employer?
Attached to every paystub
By January 1st
By January 31st
By April 15th

What is the minimum total pay for independent contractors before you receive a 1099 form?

1099 forms are issued to independent contractors paid by a business but they also can be issued for other purposes. State two other situations that might cause you to receive a 1099.

When should you receive your W-2 form from your employer?
Attached to every paystub
By January 1st
By January 31st
By April 15th

1.8 File Your Taxes

1.8 File Your Taxes

How many math errors did taxpayers make on tax returns last year?

Does it surprise you that taxpayers make so many errors on their tax returns?

What strategies can you use to avoid making mistakes on your own tax return?

Selena has earned income of $11,000. Does she need to file a tax return? Why or why not?

Andrew did not work last year but won a cash prize at a carnival of $2,500. Does he need to file a tax return? Why or why not?

What is the minimum total pay for independent contractors before you receive a 1099 form?

1099 forms are issued to independent contractors paid by a business but they also can be issued for other purposes. State two other situations that might cause you to receive a 1099.

How many math errors did taxpayers make on tax returns last year?

Does it surprise you that taxpayers make so many errors on their tax returns?

What strategies can you use to avoid making mistakes on your own tax return?

Selena has earned income of $11,000. Does she need to file a tax return? Why or why not?

Andrew did not work last year but won a cash prize at a carnival of $2,500. Does he need to file a tax return? Why or why not?

When should you receive your W-2 form from your employer?Attached to every paystubBy January 1stBy January 31stBy April 15th

What is the minimum total pay for independent contractors before you receive a 1099 form?

1099 forms are issued to independent contractors paid by a business but they also can be issued for other purposes. State two other situations that might cause you to receive a 1099.

When should you receive your W-2 form from your employer?Attached to every paystubBy January 1stBy January 31stBy April 15th

When should you receive your W-2 form from your employer?
Attached to every paystub
By January 1st
By January 31st
By April 15th

When should you receive your W-2 form from your employer?
Attached to every paystub
By January 1st
By January 31st
By April 15th