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Course: Financial Literacy > Unit 11
Lesson 4: About this unit: Taxes and tax formsGo deeper: Extension activities
This section is specifically designed to provide educators with engaging extension activities that elevate students’ critical thinking skills, adhering to the higher levels of Bloom's Taxonomy.
Extension activities
Enhance and apply your knowledge from this unit with our recommended extension activities. Suitable for both individual and group work, these activities can be tailored to fit varying levels of complexity, time availability, and resources:
Compare, contrast, and choose!
Investigate and contrast the taxation systems of the United States with a country of your choice, examining various types of taxes such as income, sales, property, and excise taxes. Utilize the knowledge and analytical tools gained from the unit to assess the differences and similarities between the two systems. Consider factors such as tax rates, brackets, deductions, credits, and taxpayer impact. Create a presentation or a report that explains your choice and its advantages and disadvantages.
Interview: Personal tax experiences
Reach out to an individual who has experience with managing their taxes, such as a family member, friend, teacher, or business owner. Inquire about their methods for filing taxes, the tools or services they use, and their strategies for staying organized throughout the year. Discuss their experiences with different tax forms, any challenges they have faced, and any successes or lessons learned in navigating the tax system.
Prepare a set of questions that cover topics such as:
- How they approach tax season and their process for gathering necessary documents.
- The types of tax forms they have experience with (e.g., W2, 1040, 1098) and their comfort level with each.
- Any software or professional services they utilize for tax preparation and why.
- How they keep track of tax-related expenses and receipts throughout the year.
- Their experiences with tax deductions and credits, and how they maximize their tax return.
- Any advice they have for someone new to filing taxes or looking to better manage their tax situation.
Game time!
Participate in a game or a competition that tests your knowledge and skills of consumer credit, such as the Tax Scramble Activity. Challenge yourself and your classmates or friends to see who can achieve the best score or performance.
Real-world relevance
Intuit has a great tax simulation that brings the real-world relevance to life. The simulation is structured so that you must first complete the "Filing Taxes" module, which provides a solid foundation in the basics of tax preparation. Subsequent modules build upon this knowledge, introducing various tax scenarios that you, or those in your community, may encounter. By working through these simulations, you can acquire a practical understanding of taxes, enabling you to apply this knowledge to your own situations or to assist others.
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