Death and Taxes.

[mol]

When I was in school...we were taught many, many things. A few things I have used. Most I have not. I was thinking a few days ago as I held my w-2 in hand....at no time in school was I EVER instructed on how to prepare taxes...or even how they worked...or that I had to pay them at all!

Is this the same everywhere?

[Mairwen]

You don't. Our federal constitution, nowhere does it state that we MUST pay our taxes. The IRS was created with the notion to collect taxes to pay off the debt created for the Civil War, and was supposed to have disbanded once that debt was collected. Well, as we all know, that hasn't happened.

Unfortunately, if you don't pay your taxes, you can be sued for tax evation.

So what would the lesser of two evils be in this situation?

[Shatav]

Well, I knew about taxes, but that was probably just because my dad's an economist. I kinda had a strange upbringing that way. I think I knew about the law of supply and demand before I knew how to count. :)

[Semele]

So Mol, what was the point of this thread?? Were you hoping some wonderful accountant type on the boards would offer to help us with our taxes??? Silly boy!! So has anyone offered yet????
Semele

[Shanti]

Hey this is old but I never was taught about personal taxes in school even though it was definitely going to be something I would have to do!!
heck I dont know anyone that was taught how to do taxes or anything remotely related to the annual headache!!!
They tell kids all about career planning, do they teach personal tax return prep yet?

I know some schools teach check book balancing!

[Boogins]

I think everyone understands the notion of taxes before they hit the age of ten. But, no, they don't tell you how to DO your taxes in school unless you have the questionable privilege of choosing accounting as an option here in Alberta.

I didn't make that choice. Alas, I still do our household taxes here every year.

[Yasmine Galenorn]

So Mol, what was the point of this thread?? Were you hoping some wonderful accountant type on the boards would offer to help us with our taxes??? Silly boy!! So has anyone offered yet????
Semele

ROFL...I can give you the name of my accountant. Being self-employed, there's no way on earth I prepare my own taxes...too complicated as a writer. I just add up all the receipts, send them off with a breakdown to my accountant, and he tells me how much I'm going to pay in estimated taxes the next year, and how much I owe now. *sigh*

Yasmine :colorful:

[Shanti]

I think everyone understands the notion of taxes before they hit the age of ten. But, no, they don't tell you how to DO your taxes in school unless you have the questionable privilege of choosing accounting as an option here in Alberta.

I didn't make that choice. Alas, I still do our household taxes here every year.
They should teach it in elementary school, before you are old enough to work!!

Thats a part of life we all live with shouldnt it be a part of school?

Heck algebra we seldom use especially compared to basic tax prep!

[Yasmine Galenorn]

They should teach it in elementary school, before you are old enough to work!!

Thats a part of life we all live with shouldnt it be a part of school?

I think they should teach money management from day 1...actually, if I had kids, I'd be doing that with their allowance. Teaching the concept of savings, credit (and how--and how not--to use it), investing...set up my own 'bank' for them on a level they could understand at even ages 5 and 6.

I learned how to balance a checkbook at age 10...one of the few good things my stepfather taught me.

Yasmine :colorful:

[Findarto]

THey teach you how to balance a check book, and the system of credit in Elementary school.

We had a field trip in which we went to a place called Enterprise Village (you can google it) and got to have jobs for the day. We had to balance a check book at work (depending on your job) and your personal one. And we had to pay pills, and shop and use credit.

[Shanti]

THey teach you how to balance a check book, and the system of credit in Elementary school.

We had a field trip in which we went to a place called Enterprise Village (you can google it) and got to have jobs for the day. We had to balance a check book at work (depending on your job) and your personal one. And we had to pay pills, and shop and use credit.
Didnt teach you how to complete the basic simple tax form?

[Yasmine Galenorn]

THey teach you how to balance a check book, and the system of credit in Elementary school.

We had a field trip in which we went to a place called Enterprise Village (you can google it) and got to have jobs for the day. We had to balance a check book at work (depending on your job) and your personal one. And we had to pay pills, and shop and use credit.

See, when I was in elementary school (so many years ago) they didn't do that. They didn't seem to feel kids needed to know that.

Yasmine :colorful:

[Lewen]

See, when I was in elementary school (so many years ago) they didn't do that. They didn't seem to feel kids needed to know that.

Yasmine :colorful:
I agree...they didn't teach me that in school either, I had to learn the hard way through the school of hard knocks. Good experience for me though. Also working at a bank helped me alot and I got quite good at figuring out other people's financial messes and helping them.
Now, I just take my stuff to H&R block and let them deal with it.
I already started teaching my kids some of the valuable things that Yasmine already mentioned in a previous post. I know my kids will make their own mistakes as they get older, but at least they couldn't say I didn't try to teach them!

[CoolJ]

Most kids I saw in school didn't even understand what taxes were... income tax, sales tax, etc.... much less what to "do" every year.... even in high school

so.. no... I wasn't taught either

[Lady RedHawk]

I guess I was one of the fortunate ones. I had both an economics and a government teacher who each taught us how to fill out a 1040. The economincs teacher used it as a lesson in the supply and demand part of things. She gave each of us different "dummy" W-2's with a few other things like so many kids and we had to fill out the forms. Was rather helpful.

[Happy Shrew]

Heck algebra we seldom use especially compared to basic tax prep!

Tax season is but once a year. You scale recipes, estimate how long a car drive will take, calculate tips and solve for other unknowns all year round.

Well, I do anyway. I'd just be surprised if you didn't have similar needs.

My school didn't do tax prep either. My parents brought me home an EZ form and let me at it. It'll get more complicated later, I'm sure, but at least I'm familiar with the language.

[Bix]

Yeah, I really don't know how to do taxes...and my parents just send their taxes off to an accountant. Bleh, I'm going to be screwed when I'm on my own.

It seems there are a lot of practical things school just doesn't teach kids.

[Felidae]

When I was in school...we were taught many, many things. A few things I have used. Most I have not. I was thinking a few days ago as I held my w-2 in hand....at no time in school was I EVER instructed on how to prepare taxes...or even how they worked...or that I had to pay them at all!

Is this the same everywhere?

We weren't taught tax preparation either, but when I was in high school I took an office prepatory elective course that taught us typing, shorthand from dictation, check writing procedure and checkbook balancing, bill payment procedures, receptionist skills, business office etiquette, and, most importantly, proper filing!

Today they seem to focus on computer skills only, even in Administrative Assistant courses.

I have yet to meet a kid (and to me that's 25 and younger) that comes into my office to work and doesn't require training in the above job requirements before he or she is of any use to me at all.

Schools seem to have lost focus on useful, real-world skills.

[keltickat]

When I was in school...we were taught many, many things. A few things I have used. Most I have not. I was thinking a few days ago as I held my w-2 in hand....at no time in school was I EVER instructed on how to prepare taxes...or even how they worked...or that I had to pay them at all!

Is this the same everywhere?

You didn't have to take goverment? It didn't cover how to prepare them as no one really understands that... but there was a chapter on who has to pay and why...

Certainly it should have been covered when you went over the Constitution.


Amendment XVI
The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several states, and without regard to any census or enumeration.

But why they have to be so complicated...

[Zoritsa_Nepenthe]

Hmm...I remember in high school having to do my taxes in class.Of course,it was in H.E.R.O(Home Economics Related Occupations).Everyone in class had part-time jobs(yay for that program...only went to school half a day),so when it came time for taxes,we all learned and filed ours.I don't think it was manditory though,as most everyone made minimum wage and only worked a few hours a week,but it did help us learn how to file them.Of course,after that,I paid someone to do mine :hehehehe:

[RoseKitten]

We spent an entire day working on taxes in my senior HS economics class. It wasn't very helpful though, 'cause I do my taxes on TurboTax, so knowing the paper system didn't help too much ^_^

[WitchJezebel]

I never learned how to do my own taxes in h.s., nor did they even teach us how to balance our checkbooks. I went to an all girl Catholic h.s., and they groomed you for either college or the wonderful career of secretarial work... my school was pretty conservative, it was run by nuns.

[Thunder]

We spent an entire day working on taxes in my senior HS economics class. It wasn't very helpful though, 'cause I do my taxes on TurboTax, so knowing the paper system didn't help too much ^_^

Tubo tax is a gift from the Gods. If your income is high enough to itemize but low enough that the cost of going to H&R Block or some other CPA would be a burden, it is the best.

The great thing about it is that they have an army of people updating the system each year so you don't have to know everything. In fact I doubt that there is one living person who understands the tax code in its entirety.

Even the pros use similar software to prepare your taxes these days anyway.

[pawnman]

My parents taught me. Now I just let the computer do it. I'm not sure I could do them by myself, by hand.

No introduction whatsoever to anything financial at school.

[Yasmine Galenorn]

Tax season is but once a year. You scale recipes, estimate how long a car drive will take, calculate tips and solve for other unknowns all year round.

I wish! LOL, for some of us, tax time is a quarterly event...or at least paying estimated taxes is. I send a check four times a year to the IRS. Ugh.

Yasmine :colorful:

[Findarto]

Didnt teach you how to complete the basic simple tax form?
Yes.
That's how we got graded in 8'th grade, when we went back though.

[Calen]

We have Economics and Accounting electives at my school, but I didn't take them. I guess my parents will have to show me how to do it.

[phoenixblayze]

never was taught how to do my taxes, but thank the gods for turbotax!!!!

[Findarto]

We have Economics and Accounting electives at my school, but I didn't take them. I guess my parents will have to show me how to do it.
I'll teach you,
because I'm cool like that *shades*.

[keltickat]

We have Economics and Accounting electives at my school, but I didn't take them. I guess my parents will have to show me how to do it.

you could always read the instructions that come with the form...

if you don't have any dependants or things to itemize the EZ form is pretty self explanatory… if you made x amount you pay y amount of taxes, subtract y from what your employer deducted and the +/- is what either owe or get back... honest it's nothing to be dreading when you're young...

it’s when you get into things like business, medical, educational, dependant care expenses and mortgages that the tax code gets complicated… and self employed that is something to dread...

[johenn123]

When I was in school...we were taught many, many things. A few things I have used. Most I have not. I was thinking a few days ago as I held my w-2 in hand....at no time in school was I EVER instructed on how to prepare taxes...or even how they worked...or that I had to pay them at all!

Is this the same everywhere?
not been taught about taxes yet, I don't even know the simple stuff

[Tzhebee]

I must be an odd one. I leaned all about taxes in school. Granted, "accounting" was one of my chosen electives (instead of cooking...in hindsite, I really REALLY shoulda taken the cooking class :crazy: ). Anyway, I happen to like taxes. I mean, not the actual having to pay them thing, but filing returns and quarterlies and stuff is fun. Yes...I went there...I put "fun" and "taxes" in the same sentance.

Just for kicks one year, I went down to OR to file all my friends taxes because I was interested in how the state taxes worked. Then I did one for another friend in Indiana (I think...) because they have different taxes per county!!! It was great.

Oh...and I file all my own returns despite how many extra pages are needed. :) And I'm not an accountant by trade...it's just one of those fun things I do on the side. ;) (yes, I've already filed my taxes this year).

[Felidae]

I must be an odd one. I leaned all about taxes in school. Granted, "accounting" was one of my chosen electives (instead of cooking...in hindsite, I really REALLY shoulda taken the cooking class :crazy: ). Anyway, I happen to like taxes. I mean, not the actual having to pay them thing, but filing returns and quarterlies and stuff is fun. Yes...I went there...I put "fun" and "taxes" in the same sentance.

Just for kicks one year, I went down to OR to file all my friends taxes because I was interested in how the state taxes worked. Then I did one for another friend in Indiana (I think...) because they have different taxes per county!!! It was great.

Oh...and I file all my own returns despite how many extra pages are needed. :) And I'm not an accountant by trade...it's just one of those fun things I do on the side. ;) (yes, I've already filed my taxes this year).

As a bookkeeper who is required to fill out monthly state sales taxes, quarterly payroll reports, yearly payroll reports, and daily AIA Pay Requests I find the above statement(s), which couple those ridiculous governmental and contractual paperwork requirements with any notion of fun, absolutely galling.

:lol: just kidding!

But I do hate them with a purple passion and to actually receive them in the same envelope with those silly "Paperwork Reduction Act" notices is irony personified.

[Koehnae]

I know some schools teach check book balancing!

Our school did. We even had a kid in the class ask why we weren't taught something more useful, like doing taxes. The teacher responded, "Because you can hire an accountant to do that." :awilly:

[pawnman]

Tax season is but once a year. You scale recipes, estimate how long a car drive will take, calculate tips and solve for other unknowns all year round.

Well, I do anyway. I'd just be surprised if you didn't have similar needs.

My school didn't do tax prep either. My parents brought me home an EZ form and let me at it. It'll get more complicated later, I'm sure, but at least I'm familiar with the language.

People still calculate tips? I just round it to the nearest dollar, then add what I think is a reasonable amount. Besides, it's not the math that makes it hard...it's the screwy tax laws. What is a deduction? Can I claim myself? Do I report interest as income earned? What if it's in a retirement account? That kind of thing is what makes it challenging.

[WokeUpDead]

People still calculate tips? I just round it to the nearest dollar, then add what I think is a reasonable amount.
In California you just double the sales tax:) .

Someone said something about the Constitution saying you don't have to pay taxes but doesn't one of the amendments say something about an income tax?

[kal]

i am pretty lucky my employer pays my tax and national insurance
it saves me the headache
over here its only the self employed or wealthy that do there own taxes

[Ahautenites]

I never learned how to prepare my taxes in school. In fact, Wiggie and Athena-Nadine had to show me how to do it for myself a few years ago.

But I did get some useful advice from Mr. Langlais (my high school statistics and probability teacher). He said, "Have only one credit card. And always pay more than the minimum each month or you will never pay off your bill."

[pawnman]

i am pretty lucky my employer pays my tax and national insurance
it saves me the headache
over here its only the self employed or wealthy that do there own taxes

You never get any money back? My employer pays my taxes too, but I still have to submit a return. Or do you have an entirely different system?

[WokeUpDead]

You never get any money back? My employer pays my taxes too, but I still have to submit a return. Or do you have an entirely different system?
Don't you have to pay taxes for the money they use to pay your taxes? I saw this article today and it was somewhat interesting.
http://www.slate.com/id/2134674/

[pawnman]

Don't you have to pay taxes for the money they use to pay your taxes? I saw this article today and it was somewhat interesting.
http://www.slate.com/id/2134674/

Huh? They pay the taxes...well, I guess they take the money from my paycheck, but they pay the IRS, not me. I guess a better term is "withholding" my taxes. I think it's all a little silly, since I'm already being paid with tax dollars. I'm paying part of my own salary (a very small part...like, maybe the flight incentive pay).

[Happy Shrew]

People still calculate tips?

My whole family does. Then again, I also think it's unheard of to pay someone to do your taxes, so I guess we're just strange.

I remember the first time I paid a restaurant bill in front of my boyfriend. He specifically said "Oh, good. A girl who knows how to calculate a tip in her head!" It's a sign of competence in some circles.

[keltickat]

Someone said something about the Constitution saying you don't have to pay taxes but doesn't one of the amendments say something about an income tax?

Yeah it's the 16th amendment, ratified in the early 1900's because land tax was unfair to farmers...


Amendment XVI
The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several states, and without regard to any census or enumeration

I don't know where people get the idea that income tax is unconstitutional, it right there in black and white nicely ratified by 2/3rds of the voters in 2/3rds of the states…

I actually had one person try to argue that income tax was illegal because the 13th amendment was never fully ratified… *shakes head* and boy do you make an ass of yourself arguing that slavery shouldn’t have been abolished… and what that had to do with an amendment that was ratified 40-50 years later they couldn’t quite explain…

[TaysatWesir]

THey teach you how to balance a check book, and the system of credit in Elementary school.

We had a field trip in which we went to a place called Enterprise Village (you can google it) and got to have jobs for the day. We had to balance a check book at work (depending on your job) and your personal one. And we had to pay pills, and shop and use credit.

That could of came in handy when I was in elementary school had to learn the hard way.

[Rudas Starblaze]

When I was in school...we were taught many, many things. A few things I have used. Most I have not. I was thinking a few days ago as I held my w-2 in hand....at no time in school was I EVER instructed on how to prepare taxes...or even how they worked...or that I had to pay them at all!

Is this the same everywhere?


yes, im sure it is. its just another conspiracy(sp) the government has. and as for the "paying for war" thing..... thats part of the reason why the U.S. is always involved with anything that goes on in other countries. as long as we have the ""posibility" to go to war they can charge us tax. what a wonderful system we have.

[WandererInGray]

Eh. *shrugs* Taxes aren't that hard for most people. It's really only when you're self-employed, have lots of investments, charities and other assorted things that can muck up the works.

I've only had one year since I've had taxable income where I let someone else do my taxes, and that was because I had property, a retirement account cashed in, unemployment, three jobs in two different states and a marriage to factor into my taxes. :lol: Not worth the hassle to do it myself.

Pretty much anyone who's not married and makes less than a certain amount can fill out and 1040EZ form.

And with things like TurboTax nowdays, it doesn't take much at all to do it.

[Little Billy]

You don't. Our federal constitution, nowhere does it state that we MUST pay our taxes. The IRS was created with the notion to collect taxes to pay off the debt created for the Civil War, and was supposed to have disbanded once that debt was collected. Well, as we all know, that hasn't happened.

Unfortunately, if you don't pay your taxes, you can be sued for tax evation.

So what would the lesser of two evils be in this situation?

Um, yes it does. The constitution gives the government the power to levee taxes.

[keltickat]

I'm really confused... why does everyone keep saying that they never learned to balance a checkbook in school?

Correct me if I'm wrong... but isn't addition and subtraction mandatory in all certified schools? I’m pretty sure I went through that stuff in primary school in about 2nd grade, because we were doing division in 3rd grade for sure… I know that was a long time ago way back before computers and calculators… I’m pretty sure they still teach that stuff… since my son had to learn it…

A checkbook is really just a runny add/sub problem…
+salary –expenses = money left…

[RoseKitten]

I'm really confused... why does everyone keep saying that they never learned to balance a checkbook in school?

Correct me if I'm wrong... but isn't addition and subtraction mandatory in all certified schools? I’m pretty sure I went through that stuff in primary school in about 2nd grade, because we were doing division in 3rd grade for sure… I know that was a long time ago way back before computers and calculators… I’m pretty sure they still teach that stuff… since my son had to learn it…

A checkbook is really just a runny add/sub problem…
+salary –expenses = money left…

Hehe...

For me, the hardest part of balacing my checkbook, is remembering to do it! LoL. But, I have this lovely "internet" and the option to use it to look up recent expenses, so that I don't have to hunt down reciepts. ^_^

[Findarto]

I'm really confused... why does everyone keep saying that they never learned to balance a checkbook in school?

Correct me if I'm wrong... but isn't addition and subtraction mandatory in all certified schools? I’m pretty sure I went through that stuff in primary school in about 2nd grade, because we were doing division in 3rd grade for sure… I know that was a long time ago way back before computers and calculators… I’m pretty sure they still teach that stuff… since my son had to learn it…

A checkbook is really just a runny add/sub problem…
+salary –expenses = money left…
Is this teh sarcasm ?

[keltickat]

Is this teh sarcasm ?

No, it’s more along the lines of wry commentary… sarcasm usually involves me getting banned from somewhere…

(see my last entry in the rant section for sarcasm...if I'm really on a roll I work the starving masses of Antartcica in...)