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How detailed for taxes do you cover with students? For example, should they learn how to file their own?

I teach a semester long class and have a hard time fitting all the material in.

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Posted by bgadapee
Asked on January 12, 2016 7:42 am
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We go over payroll taxes and do a project on the students figuring out net pay. After that we go over 1040ezs and I have the students look at a few examples of a W-2 and 1099 int and do the 1040 associated with these examples.

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Posted by kistler24
Answered on January 12, 2016 8:19 am
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I cover some income tax basics during tax season. We talk about who needs to file and some other basic information such as what is and isn’t taxable. As a class, we prepare a 1040EZ. Afterwards, each student prepares 1040EZ forms for (2) scenarios. They exchange with a partner and audit each other’s tax returns. They then submit them to the IRS (which is me!). We also talk about some items that would cause someone to use a 1040A. We do an example together followed by them preparing 1040A forms based on various scenarios. They exchange and audit each other again and then submit to the IRS (me). I also encourage students to bring in their W-2s and to prepare their own tax returns.

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Posted by tpancio
Answered on January 13, 2016 1:25 pm
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Taxes can be very boring for students but something that we all need to deal with each day. I teach a lot of online classes so a discussion forum like this can really help me break several tax questions out into different threads students can discuss. I like asking questions about the type of taxes they are paying, dealing with identity theft with their taxes, how they file (e.g. use a professional or using a software), getting a tax refund or not, and more.

Opening up the conversation so the students supply the information on how they deal with taxes help answer their questions along with the level of experience they have with taxes.

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Posted by kossjoe1999
Answered on January 16, 2016 2:07 pm
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Admittedly I did a tax season at H&R BLock 15 or so years ago, so my taxes unit test includes them completing a 1040EZ, 1040A, 1040 and Schedule A. They really enjoy getting comfortable knowing how to do taxes – admittedly I beat it to death because I want them to walk away comfortable enough with understanding basic taxes so they do well on the big long test day but they’re not afraid of them. If they can buy the annual software instead of pay others it theoretically could save them $100s over the years. (I do advise that if they buy rental homes, etc., then learn a lot more or get professional help, but…)

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Posted by jpwright
Answered on February 2, 2016 12:12 pm
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