r/personalfinance Wiki Contributor Jan 31 '15

Reminder: Khan Academy still has basic explanations on taxes in the U.S. This should help you with understanding tax brackets, deductions, and other related information. Taxes

Basically a repost from last year, but I felt the need to remind people that this resource exists. There are some simple explanations of tax law in the U.S. over at Khan Academy. Here are a couple links:

And since retirement accounts tie into deductions:

Let me know if there's anything related I should add to this list. Happy filing!

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u/HomicideSS Jan 31 '15

It's annoying how they don't teach this in high school. It's okay though, we learned a bunch of irrelevant things

3

u/badwolf7850 Jan 31 '15

When I was in high school we had electives like Personal Finances, and Money Management and I think one was required. I took both and I'm glad I did. Do other schools not have this?

6

u/BucetaMonster Jan 31 '15

My school does but it considered the lower math class for upperclassmen. Usually they have students take pre-calc and Calc AB-BC and the finances class isn't required to graduate.

1

u/MaybeDrunkMaybeNot Feb 01 '15

I mean, it is low level math. That's why it's not required. It would prevent people from taking a real math class like calc.