Againnot Taught in Schools Nor Is the Tax Codes Taught
What should we actually be teaching our students in school?
While educational standards are important, many people believe that essential life skills are being left out of the classroom. Skills which are truly necessary when young minds graduate from high school.
This is why many people believe that taxes in school lessons should be present. Other life skills that are good for students to learn include budgeting, job interviewing, and resume writing.
Some may argue that teaching these skills should rest on the parents. However, not all American adults are confident in their ability to file taxes and understand them. Educational institutions, however, can make taxes commonplace and standardized so that each student has the opportunity to learn and practice these skills early on.
So, why aren't these skills a part of the curriculum? And, how can teachers help students to understand taxes and life skills better?
These skills aren't a part of the curriculum simply because they aren't mandated by educational standards. But, teachers can and should help students to become familiar with budgeting, finances, and taxes.
Read on to find out how taxes in schools can be taught and why they should be.
Taxes in School: Why It's Beneficial
Sadly, not everyone is blessed with parents who can teach them solid financial skills. In fact, only 3 out of 10 Americans are considered to be financially healthy. On the other end of the spectrum, 17% of Americans report that they struggle with nearly all aspects of their finances.
This discrepancy means that generations could potentially have to learn the hard way how to budget, pay taxes, and manage money.
However, it's possible that the financial education gap could be closed if we taught our children in schools these imperative skills. Of course, math, history, and English are important, but these classes can also contain lessons about taxes.
While it's admirable to want to prepare every child for a college education, some young adults will go straight into the workforce instead. This means that alongside teaching these subjects in a purely academic manner, we could also benefit from teaching them in a practical way as well.
We owe it to our economy, to our children, and our society to teach these skills in schools. Many people who know about finances may take it for granted, but for many people, it's like learning a foreign language. By teaching taxes and financial skills in schools, we can give every child a chance to succeed in the real world.
Explore the following ways taxes in school can be taught to close the financial knowledge gap.
1. Math Class
One of the best places a child can gain financial knowledge is in math class. Children take math from elementary school all the way until high school, which gives them a ton of knowledge and opportunities to put their skills to practical use.
Taxes could be taught in math class by allowing children to calculate sales tax on various items. As students age, they could then learn about the percentages of taxes that are taken out of paychecks. As we all probably know and understand, it can be shocking at first to learn how much we lose from our paychecks because of taxes!
2. History
History class is a great place to learn about the history of taxation. The history of taxation is essential to America, which makes it a great way to present this subject.
When students learn about the American Revolution, for example, they can be taught why it was so important for Americans to have a say in their taxes. By teaching students how taxes have changed throughout history, we also teach them that they can have a say in taxation too. They learn that it isn't fixed and that they may be able to affect positive changes as well.
3. Government
In government class, we can teach our children about how our taxes are used. Government lessons can teach students how taxes fund public parks, schools, and hospitals. We can also teach students about the importance of voting and knowing a candidate's tax policy.
Teaching students about tax laws can also be achieved in government class. For example, teaching students that it's required to file taxes and the consequences of not paying taxes. Teaching students how the tax system works may also give them more clarity on how to prevent issues with taxes in the future.
Government classes can also teach about tax relief processes in case an issue arises. Read more here to learn more about tax relief services.
4. World Languages
Teaching about taxation in world languages classes shows students that other countries tax their citizens as well. By learning about other countries that tax, students can compare and contrast with America's current tax laws. Teaching students how to file taxes in each of these countries as a non-citizen is also eye-opening.
This lets students be in the know in case they decide to travel abroad or move to another country. It also can give students some insight into how filling taxes for non-citizens in America might work.
5. Business Class
Business classes are a great place to actually show students the process of filing taxes. This gives them a firsthand view of what tax forms look like, questions that need to be answered, and how long it takes.
Business classes can also teach students how to directly file their own tax returns. Many students who are in high school, for example, have a part-time job which means they will need to file taxes. This could give a business teacher a great opportunity to show students how to file taxes in a guided manner so that students feel more confident filing on their own in the future.
Why Kids Should Learn Taxes in Schools
Kids should be taught taxes in schools simply to grant them a better chance at success. With more familiarity, practice, and confidence we allow our children to take control of their financial lives and learn more as they go. By providing a secure base of knowledge, however, we allow every student to have a chance at succeeding financially and filing taxes effectively.
Want to learn more about studying abroad? Check out our blog post detailing how to make a school study abroad trip successful through blogging and communication.
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Source: https://gossipandgab.com/140810/why-kids-should-learn-about-taxes-in-school
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