Tax Filing Simulation
Directions: Complete the first tax simulation, Filing Your Taxes, and answer the following
questions.
Have you ever filed your own taxes? Or have you ever helped a parent file your taxes?
What are the 3 ways you can prepare your taxes?
How do you know if someone can claim you as a dependent?
What are 3 types of income that can be reported when filing taxes?
What is the name of Carlos' employer?
What is the amount of Carlos' wages, tips, and other compensation?
How much federal income tax was withheld from his paychecks?
What state does Carlos live and work in?
What is the difference between a credit and deduction?
Should Carlos choose the standard deduction or his itemized deductions?
Why would someone choose their itemized deductions over the standard deduction?
How much was Carlos' federal refund? How much was his state refund?