Offer of a loan to 1.90%
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Mar 28, 2010
Some things we did.
Got 1040 EZ(?) forms from CPA who does our taxes.
Discuss with older students(mostly)whether it would be better to use 1040 or to itemize.
We made up scenarios such as:
Married couple, no kids, income $40,000 Married couple, no kids, income $20,000 Married couple, no kids, income $80,000
Single, income $18,000 Single, income $50,000 Single, 2 depedents, $18,000 Single, 2 dependents, $50,00
Married couple, 4 kids, income $17,000 Married couple, 4 kids, income $30,000 Married couple, 4 kids, income $60,000
There are obviously many scenarios and they would vary according to the make up of classes.
The chosen scenarios are put in a bowl, whatever, and the kids chose at random. Each work out the income taxes for the scenario they drew.
It was fun and a great learning experience.
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