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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35

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

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u/SigaVa Jan 31 '15

The purpose of school is to teach you how to learn and think, not to teach you specific applied skills. That way you can go learn stuff like this on your own.

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u/KeepPushing Jan 31 '15

Doesn't every school have elective classes? Just let this be one of them. I learned all kinds of skills in those classes including how to cook. You can't tell me that schools don't serve a higher purpose than just how to "learn and think". Learning taxes and understanding the history and purpose of it help students "learn any think" anyway. The more I think about it, the more I'm sick of this excuse for why we don't teach kids to do taxes in school. Just do it.

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u/SigaVa Feb 01 '15

You think learning the trivial details of the currently implemented tax system in whatever corner of the world you happen to live in is a "higher purpose" than learning how to think and learn? Wow.

Also, 99% of all public schools offer exactly the type of classes you're talking about.

And who's "offering excuses"?

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u/KeepPushing Feb 01 '15

You think learning the trivial details of the currently implemented tax system in whatever corner of the world you happen to live in is a "higher purpose" than learning how to think and learn? Wow.

You think offering me a false dichotomy helps make your point?

Also, 99% of all public schools offer exactly the type of classes you're talking about.

Absolutely not true. What's the point of you making this hyperbolic statement at all? Why even post this?

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u/Pzychotix Emeritus Moderator Feb 01 '15

Learning taxes and understanding the history and purpose of it help students "learn any think" anyway.

To be fair, these were your words:

Learning taxes and understanding the history and purpose of it help students "learn any think" anyway.

I'm pretty sure any history class covers the history and purpose of taxation. That they don't teach you how to fill out a 1040 is a different subject matter altogether, but you didn't really specify to that extent.

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u/KeepPushing Feb 01 '15

History classes also covers the history of great scientists and mathematicians and yet we're allowed to take classes that delves more in depth into those subjects than whatever cursory glance a high school history class can give. An income tax class can cover all kinds of policy making details that a high school history class cannot.