Category: Taxes

Reading List for February 19-21

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Feb 19, 2021
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Economics, Investing, Taxes
Economics Retail sales jumped beyond expectations in January. (CNN) New weekly unemployment claims back up this week, and prior week was revised up as well. (Yahoo Finance) Sales of existing homes rose in January, surprising forecasters. Inventories are low, prices are high. (Reuters) Walmart will be raising wages for 425,000 workers to average above $15 an hour. (CNBC) There is much debate over an increased minimum wage, particularly in struggling areas of the country. (NYT) Covid has driven...

Reading List for February 12-14

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Feb 12, 2021
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Cryptocurrencies, Investing, Economics, Budgeting, Taxes, Paying for College
Happy Valentine's Day! BitCoin Bitcoin may be winning the headline contest over GameStop this week. Let’s start with “What can you buy with bitcoin?” (NYT) The nation’s oldest bank, BNY Mellon, and Mastercard announce they are getting on the cyrptocurrency bandwagon. (Markets Insider) Tesla may have triggered the latest run-up in bitcoin pricing after their announcement of a $1.5 billion investment, and that they would accept bitcoin as payment for their cars. (CNBC)...

Reading List for January 29-31

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Jan 29, 2021
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Investing, Economics, Taxes, Paying for College, Student Loans
Game Stop Seems like we could devote the entire reading list to Game Stop.   It is the topic of this week’s FinCap Friday, this 15 minute primer on NGPF with Tim and Yanely, and NGPF will hold a PD on Monday about it as well. In the mean time, here are several articles covering several aspects of this phenomenon.  If you read/watch nothing else on the topic, WATCH THIS! NBC’s Stephanie Ruhle’s explanation of the situation, being called a “short...

EdPuzzle Thursday: Let's Talk Taxes

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Jan 27, 2021
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EdPuzzle Thursday, Taxes
EdPuzzle is a great platform to test for knowledge while students watch a video and learn remotely. We will be releasing new EdPuzzle videos here on the blog each week so that your students can answer questions that are directly embedded within engaging videos.  This week's EdPuzzle video titled "Let's Talk Taxes" explains the difference between gross pay, net pay, and payroll deductions.      Interested in more EdPuzzle videos? Visit our Video Library and type in...

Question of the Day: On what date will the I.R.S. begin accepting 2020 tax returns?

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Jan 24, 2021
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Question of the Day, Taxes
Answer: February 12th Questions: Traditionally, the I.R.S. opens tax season in the fourth week of January (28th or 29th). How do you think that taxpayers might be impacted by this delay? The I.R.S. strongly recommends that taxpayers file electronically with direct deposit of their refunds into their bank accounts. How comfortable would you be providing your bank account information to the I.R.S. knowing that it’s the fastest way to get a refund? Click here for the ready-to-go slides for...

Interactive: Pres. Biden’s Federal Income Tax Plan Proposal

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Jan 24, 2021
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Interactive, Taxes
When it comes to tax policy, a change in Administration often means proposals to revise that daunting federal income tax code. One group estimated that it would take 62 days of non-stop reading to get through it!  The Biden Income Tax Calculator could be a quick and easy way to help inquisitive students understand what President Biden’s proposed federal income tax changes could mean for them or their families. Here are just a few ways you could use the Biden Income Tax Calculator in...

Question of the Day: What were the top three expenses the government paid for with our tax dollars in 2019?

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Jan 12, 2021
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Question of the Day, Taxes
SUBSCRIBE TO OUR DAILY BLOG BLAST Click here to sign up, it only takes a moment and you will receive one email each morning that will include the Question of the Day or a FinCap Friday, and other timely and engaging resources. Answer: Health, Military, and Interest on Debt Questions: Are you surprised by the top 3 categories the Federal government spends taxpayer money on? Explain. How would you adjust the spending allocation across these categories (if at all)? Why? What top three items do...

Question of the Day: What is the deadline for filing your 2020 tax return?

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Jan 11, 2021
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Question of the Day, Taxes
Answer: April 15, 2021 Questions: Just like schoolwork, why is it important to know the deadline to file your tax return? Can you file your tax return early? Why might be a reason to file BEFORE the deadline?  Why do you think the IRS gives people a few months in order to file their tax return?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.   Behind the numbers (from Motley Fool): "Chances are, the...

EconExtra: What Idea did Andrew Yang, Martin Luther King Jr. and Milton Friedman Share?

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Jan 07, 2021
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Economics, Taxes
EconExtra is a series of posts that go beyond the textbook, relating current events and recent developments in economics to content standards, and providing resource suggestions to help you incorporate the current events into your lessons.   The Issue   There is much debate about the most effective way to provide an economic safety net. Democratic Presidential candidate Andrew Yang, considered a progressive, proposed a guaranteed minimum income ($1000/month). It may surprise your...

Question of the Day: What type of currency are taxpayers now required to disclose on their 2020 tax return?

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Jan 06, 2021
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Question of the Day, Taxes
Are you looking for Free PD in this content area, one hour at a time, on your own time? Basics of Bitcoin On Demand.   Answer: Cryptocurrencies Questions:  What do you know about cryptocurrencies (e.g. bitcoin)?  5 minute explainer video from PBS's Two Cents Do you think that having the IRS now require disclosure of cryptocurrency holdings means that it is becoming more mainstream? Bitcoin, a type of cryptocurrency, has risen from $8,000 to $37,000 over the past year. When...

Black Friday 2020 Reading List

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Nov 27, 2020
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Economics, Investing, Behavioral Finance, Student Loans, Cryptocurrencies, Taxes
Hope you all had an enjoyable and safe Thanksgiving yesterday! Black Friday Here is one out of the UK to read BEFORE you do any Black Friday shopping, using behavioral economics to explain marketing tactics. (MouthyMoney) While we are on Black Friday—what will it look like? (Probably like Cyber Monday.) (USA Today) And Nathan Burrow of the NYT shares advice on how to avoid overspending on Black Friday. (NYT-subscription) Economics Surprise!? Consumer Confidence fell unexpectedly in...

Virtual Adaptation - FINE PRINT: Pay Stub

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Oct 12, 2020
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Teaching Remotely, Taxes, Career
In the activity FINE PRINT: Pay Stub, students will analyze a sample pay stub to understand its various components and answer a variety of questions. At a time where many schools have transitioned to offering synchronous and asynchronous learning, we’ve listed some adaptations and extension ideas for this activity that may work for your current classroom environment.     Synchronous Environment Ideas: First, take students on a tour of an example pay stub pointing out and...

Interactive Monday: 2 Interactives on State Taxes Show How It's Collected and How It's Spent

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Aug 31, 2020
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Interactive, Taxes
"Pew has an excellent interactive that allows users to compare from one state to another how revenues are collected. This Census Bureau interactive allows users to see how their state spends taxes collected, and compare states. There are lots of possibilities for prompts for this in a personal finance or economics class, such as:  In what ways does your state collect and reallocate tax dollars?  How does that impact you?  How does that impact...

Reading List for August 21-23

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Aug 21, 2020
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Financial Literacy, Economics, Investing, Taxes, Insurance, Paying for College
Financial Literacy Charles Schwab released its Financial Literacy Survey. Here are the highlights: On a scale of 1-100, Americans rated money management (62.9) as the most important skill for kids to learn, edging out the dangers of drugs and alcohol (60.5), healthy eating and exercise habits (58.3), and safe driving practices (57). (BusinessWire) Technology (FinTech) could develop in a way to further divide the financially vulnerable from everyone else, or it could be developed in a way to...

EdPuzzle Thursday: Tax Dollars & Tax Brackets

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Aug 12, 2020
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EdPuzzle Thursday, Taxes
EdPuzzle is a great platform to test for knowledge while students watch a video and learn remotely. We will be releasing new EdPuzzle videos here on the blog each week so that your students can answer questions that are directly embedded within engaging videos.  This week we have two EdPuzzle videos both focusing on taxes.  The first EdPuzzle video titled "How Do Your Tax Dollars Get Spent?" explains exactly what areas and programs your federal tax money supports.     ...