Teens and Taxes
2021.04.21 11:40 am - 12:21 pm
Teaching point: Why do so few teenagers file taxes?
Agenda
Agenda
Do Now (5- 10 minutes)
Do Now (5- 10 minutes)
Finish and Review Fine Print: Reading a Pay Stub (10 - 15 minutes)
Finish and Review Fine Print: Reading a Pay Stub (10 - 15 minutes)
Fine Print: Pay Stub
Fine Print: Pay Stub
Now that you’ve had some practice reading a pay stub, let’s look at a sample pay stub and put all of your skills to the test! Follow the directions on the worksheet to complete this activity. We will review our responses at the end.
Now that you’ve had some practice reading a pay stub, let’s look at a sample pay stub and put all of your skills to the test! Follow the directions on the worksheet to complete this activity. We will review our responses at the end.
What do you really know about tax Day?
What do you really know about tax Day?
When watching this video, keep in mind that it was created in 2013. Tax figures vary from year to year.
When watching this video, keep in mind that it was created in 2013. Tax figures vary from year to year.
In general, in the 2020 tax year, you had to file taxes if your earned income was more than $12,400.
In general, in the 2020 tax year, you had to file taxes if your earned income was more than $12,400.
How much do teens really know about taxes? What are some important tax facts teens should know? Watch this video to find out. Then, answer the following questions.
How much do teens really know about taxes? What are some important tax facts teens should know? Watch this video to find out. Then, answer the following questions.
- How does your tax knowledge compare to the majority of the teens’ tax knowledge in the video?
- As you learned in the video, there is no specific age requirement to pay taxes. Why, then, do you think there is a lack of awareness and general knowledge about taxes among teens?
Reference: Do I Need to File a Return?
Reference: Do I Need to File a Return?
As a teen, filing a tax return can be a mostly straight-forward process. However, you may be wondering how that process changes if someone claims you as a dependent or if you are a self-employed worker or household employee. Read through this reference to learn more about what to do in these scenarios.
As a teen, filing a tax return can be a mostly straight-forward process. However, you may be wondering how that process changes if someone claims you as a dependent or if you are a self-employed worker or household employee. Read through this reference to learn more about what to do in these scenarios.