Taxes

Unit Overview

In this unit, we will go over the process of filing tax returns.  Using tax preparation software, you will learn that doing taxes can be a straightforward process. The tax forms you receive will determine which tax preparation program you can use.

We will go over two common tax preparation programs.  One is a free and online and the other is a program that you download to your desktop computer.

This unit will help you as you begin to complete your tax return.  The chapters consist of the following topics:

1. Tax Return - the forms needed to complete your taxes

2. Tax Brackets – understand how the federal tax brackets use a progressive tax system

3. Capital Gains – if you sell an asset such as stocks, mutual funds, ETFs, etc. and have a fina gain or loss

4. NIIT Tax – this tax usually applies to high earners who have interest, dividends, capital gains, etc.

Consider using full screen while viewing the video