Overview
Tax Simulation: Understanding Taxes
This financial education course, sponsored by Intuit for Education, helps students develop healthy financial habits and build confidence about handling their taxes. The course creates a high-fidelity experience of navigating tax preparation software and challenges learners to navigate preparing and filing taxes for five characters, which introduces them to important tax considerations that are relevant to high school students
Free Digital Lessons for
Students in Grades 9-12
At-A-Glance
Grade Level:
9-12
Languages:
English and Spanish
Length:
5 digital lessons, 45 min total
Curriculum Fit:
Finance, Economics, CTE, Social Studies, Business, FCS, and AVID
Standards:
Jump$tart National Standards in K–12 Personal Finance Education
Preview the Digital Lessons
Lesson 1
Filing Your Taxes
Lesson 2
Tax Credits for Families
Lesson 3
Taxes for Gig Workers
Lesson 4
Taxes for Students
Lesson 5
Taxes for Investments
Lesson 1
Filing Your Taxes
Students help a character file his taxes electronically and learn how online tax preparation software is helpful, secure, and effective.
Lesson 2
Tax Credits for Families
Lesson 3
Taxes for Gig Workers
Lesson 4
Taxes for Students
Lesson 5
Taxes for Investments
Why Teachers & Students Love This Course
Try Pairing This Course With
EVERFI:
Financial Literacy
Marketplaces:
Investing Basics
Teaching Financial Literacy FAQ
Less than a third of high school juniors and seniors reported that they felt prepared to compare financial institutions and select one that best meets their needs (32%). Slightly more students -- but still less than half (47%) -- felt they could select, open, and manage a savings or checking account.
Young people also reported low levels of confidence in their ability to establish financial habits that contribute to long-term financial wellbeing: budgeting and managing credit. Half of juniors and seniors said they were “prepared” or “very prepared” to set up and follow a budget, while just a third (32%) felt they could check their credit and maintain good credit over time.
These skills budgeting and managing credit – are essential as young people move toward financial independence. The decisions they make in the next one to two years begin to carry consequences that can last much longer, directly impacting their lifetime financial wellbeing.
Yes, given the critical role of skill and confidence in building financial wellbeing, the low levels of preparedness among young people could be a sign of trouble as students finish high school and move toward financial independence.
Students learn the fundamentals of money management in financial literacy classes, including budgeting, saving, paying off debt, investing, and more. This information offers the groundwork for kids to establish sound financial practices at a young age and steer clear of many mistakes that result in ongoing financial difficulties.