Homework

Tax Simulation

As high school students, you are starting to get your first job and along with that first job comes April 15th…tax day. In this simulation you will find the importance of knowing the steps and procedures the government has set up to file and pay your taxes. You will be going through several tutorials to get a basic understanding of taxes from the IRS website. You will then be completing a tax return form based on a simulated person.

 

In this simulation you will:

• identify the types and uses of payroll taxes

• explain how federal income taxes are used

• distinguish between gross and net pay

• describe how employers withhold and remit taxes

• expalin the purpose of Form W-4

• describe the ways to prepare and transmit tax returns

• explain the benefits of electronic tax return preparation and transmission

• explain how to self-select a Personal Identification Number (PIN)

• locate information about electronic filing on the Internet
   

Directions:
   (All links to this assignment are on the top left of this page) 

1. Go to www.jlay78.wix.com/mrslaybusiness

a. Click on the Office Technology Homework Link

2.Click Tutorials Link

a. Complete Modules 1-14 in the Tutorials Section.(Click on the link above)

b. As you are going through the Tutorials, please read directions carefully. There are quizzes to take along the way. Take them to check your understanding of the Module.

c. Go back to Office Technology Homework Link

3. Complete the Tax Simulation Quiz #1.

a. This is a Spinner Game on PowerPoint that will determine the scenario you will complete.

b. When you have your number, go back to Office Technology Homework Link

4. Click Download Link

a. Download the 2 Files under the Tax Payer Scenario Number you received from the spinner.

b. Complete the Tax Form for your customer.

c. When it is filled out, print it out and turn it in.

5. Complete the Tax Simulation Quiz #2.

 

 

Printable Directions: