Kitty Pryde-Barton (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
throughaphase) wrote in ![[community profile]](https://www.dreamwidth.org/img/silk/identity/community.png)
fandomhigh2021-04-13 08:12 am
throughaphase) wrote in fandomhigh2021-04-13 08:12 am
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Adulting 101- Tuesday- 2nd period
Class was in the computer lab today, where every student would have some forms and a booklet at their stations. Here, have a nice long class to numb your brain from the weekend!
"Every time I do this class, we get to this time of the year and there's one topic I know absolutely no one wants to cover, but you have to, because the IRS is scary," Kitty began. "Welcome to taxes. If you get income from a job, you have to do your taxes. Because the government takes some of your money in order to pay for civil services, and things like infrastructure, and at the end of the year you look at what you made and find out if you paid too little, in which case you have to send them some more money, or too much, and then you get some money back. And to do that, because you're dealing with the government, you have to fill out paperwork.
"What happens is, your job hands you a form called a W-2, which says how much you earned and how much you paid. They have till the end of January to send it or give it to you or whatever. If you've worked multiple jobs you have a W-2 for each, and certain bank things might send you other forms, but since you're starting out here everything should be pretty simple. And you have a few different options on how to get them done. You can still find paper forms at the library and mail them in, and you can download the instruction booklet online. You also have to do taxes at the federal level and whatever state you're in, so if you do that you have to make sure you have forms for each. You can file them online using a service which does most of the work for you, but you might have to pay to file, and they can file everything at the same time. And then you could always just get a professional to do your taxes and file them, though that's going to cost more and until you start owning property and having investments and a lot of deductions- which are things you did or bought that you're owed money for- then you don't really need that.
"I've created a dummy site, where you can input the information from the forms in front of you and see what you end up with. If you get stuck, there's booklets in front of you to help, or there's help on the site. If you still get stuck, let me know."
"Every time I do this class, we get to this time of the year and there's one topic I know absolutely no one wants to cover, but you have to, because the IRS is scary," Kitty began. "Welcome to taxes. If you get income from a job, you have to do your taxes. Because the government takes some of your money in order to pay for civil services, and things like infrastructure, and at the end of the year you look at what you made and find out if you paid too little, in which case you have to send them some more money, or too much, and then you get some money back. And to do that, because you're dealing with the government, you have to fill out paperwork.
"What happens is, your job hands you a form called a W-2, which says how much you earned and how much you paid. They have till the end of January to send it or give it to you or whatever. If you've worked multiple jobs you have a W-2 for each, and certain bank things might send you other forms, but since you're starting out here everything should be pretty simple. And you have a few different options on how to get them done. You can still find paper forms at the library and mail them in, and you can download the instruction booklet online. You also have to do taxes at the federal level and whatever state you're in, so if you do that you have to make sure you have forms for each. You can file them online using a service which does most of the work for you, but you might have to pay to file, and they can file everything at the same time. And then you could always just get a professional to do your taxes and file them, though that's going to cost more and until you start owning property and having investments and a lot of deductions- which are things you did or bought that you're owed money for- then you don't really need that.
"I've created a dummy site, where you can input the information from the forms in front of you and see what you end up with. If you get stuck, there's booklets in front of you to help, or there's help on the site. If you still get stuck, let me know."
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