Federal Reserve Bank
Income Taxes
Most adults dread April 15 — tax day! Tax preparation can be intimidating even for adults. Build confidence by leading individuals through the process and then give them a scenario to practice. The exercise uses tax vocabulary to give...
Curated OER
Completing Simple Tax Forms
Twelfth graders practice filling out IRS 1040 EZ forms. They discuss various ways people pay taxes. They assess the importance of W-2 forms and apply skills using the IRS tax table to compute how much money is owed or returned.
Visa
Nothing But Net: Understanding Your Take Home Pay
Introduce your young adults to the important understanding that the money they receive from their paychecks is a net amount as a result of deductions from taxes. Other topics covered include federal, state, Medicare and social...
Visa
Financial Forces: Understanding Taxes and Inflation
Take the opportunity to offer your young adults some important financial wisdom on the way taxes and inflation will affect their lives in the future. Through discussion and review of different real-world scenarios provided...
Curated OER
Paying Taxes for Chores Lesson
Students examine the concept of paying taxes with a chores theme.
Curated OER
Your Role as a Taxpayer: Why Pay Taxes?
Students evaluate the basic rationale, nature, and consequences fo taxes. They describe why governments need taxes as revenue to provide goods and servicesin this series of activities.
Curated OER
Taxes
Fourth graders read Stone Fax and explore earning money, saving, credit and taxes. In this taxes lesson, 4th graders complete a worksheet to develop understanding of paying off debts, keeping a checkbook, calculating sales tax and...
Radford University
Percentages: Lesson 1
Math can be taxing at times. With a short instructional activity, pupils determine how income tax affects take-home pay. Learners determine their net pay based on tax tables and how adjustments in their gross pay changes the paycheck.
Federal Reserve Bank
“W” Is for Wages, W-4 and W-2
Don't let your young adults get lost in the alphabet soup of their paychecks and federal income taxes. Using sample pay stubs and reproductions of government forms, your class members will identify the purpose of such forms as a W-4 and...
Curated OER
Money Math: Lessons for Life
Students explore money as it applies to salary, paychecks, and taxes. In this essential mathematics lesson, students explore how math is used in various careers, how income takes are calculated and other important life lessons in math.
Illustrative Mathematics
Kendall's Vase - Tax
Practice sales tax when using the activity with three solution choices. Learners can use a percent table, benchmark percent, or solve by calculating. Solutions don't show how to multiply by the decimal, but method can be added in....
Illustrative Mathematics
Tax and Tip
Finding out how to calculate tax and tip is a valuable skill that all young adults should be able to do without a calculator. Learners are given a bill and asked to calculate the tax, tip, and total amount. Calculations can be exact or...
Curated OER
Taxes: Where Does Your Money Go?
Students explore the concept of taxes. In this tax lesson, students investigate types of taxes and deductions taken out of a paycheck before they see it. Students calculate the tax on a given dollar amount. Students discuss 401(k)s...
Curated OER
Micro Economics - Personal Budgeting
Students explore the real world as it relates to money and how people use it. In this money management lesson, students jump into the real world as they role play with money through spending, saving, being married, single, having...
Curated OER
Government Goods and Services
Fifth graders investigate the connection between taxes and government services. In this economics lesson plan, 5th graders discuss the process and benefits of paying sales and income taxes. Using calculators, students compute...
Curated OER
Are Taxes "Normal?"
Learners explore the concept of normal distribution. In this normal distribution lesson, students find the normal distribution of taxes in the 50 US states. Learners make histograms, frequency tables, and find the mean and median of tax...
Curated OER
How Taxing are Taxes?
Students explore the ways that taxes are levied based on taxable income. They analyze how a new series of tax cuts might affect people of different income levels and their tax rates.
Curated OER
Math and Money
Students explore personal finance. In this middle school mathematics lesson, students investigate banking, income tax, and the cost of living. The lesson includes two bonus lessons on graphing their personal spending habits...
Curated OER
Labor, Choice, and Sales Tax
Students consider the idea of earning and spending money. In this money management lesson plan, students discuss the concept of saving and spending money through the reading of a story and by completing several activities that involve...
Curated OER
Fairness in Taxes
Students identify and describe two criterion of tax fairness: benefits received and the ability to pay and distinguish between wealth and income as measures of ability to pay.
Curated OER
Regressive Taxes
Students explain that regressive taxes can have different effects on different income groups. They see how a regressive tax takes a larger share of income from low-income groups than from high-income groups.
Curated OER
The Wealth Tax of 1935 and the Victory Tax of 1942
Students explain that during the Great Depression and World War II, the Roosevelt administration implemented new, broader, and more progressive taxes in order to cover the costs of the New Deal programs and the war.
Curated OER
Lesson Plan: Figuring Sales Taxes
Students define and discuss sales tax, identify items for which they do or do not have to pay sales tax, research information online about sales tax in their state, and complete practice sheet that requires calculating sales tax percent...
Curated OER
Sales Tax and Discounts
Middle schoolers explore the concept of sales tax and discounts. In this sales tax and discounts lesson, students pretend to gamble in groups to win fake money. Middle schoolers must tax their winnings. Students collect receipts. Middle...