AM ESOL Online 3-20-24

Agenda
Unit: Money - Paying Taxes
-News
-Reading - Class Introduction  
-Free Tax Preparation Assistance - review 
-ITIN and SSN numbers 
-Standard Deduction
-Tax Brackets
-Tax Preparation help: H&r Block, software apps, etc. 
-When are Taxes due
-Laundry Care Symbols - quizzes*
*time permitting

======================
News
Calendar

====================
Class Introduction

Reading
Vilma

A E I O U

a e i o u

letter 'o'

Oh no Oh no

video 
about speaking numbers 

6 six  (sihxs)

My phone number is 666-666-666.

siihhhxxx

Texas
Tehxahs
=================

Free Tax Preparation
(Source: https://wcac.net/vita/)


Read and review vocabulary in message on the website. They are not taking any more face to face appointments. Only "online appointments" are available. 

Review website
Language options

You can review the list of what to bring to your appointment in your language.
-----------------
Message 
Vocabulary

overwhelm /s /-ed /-ing

overwhelm 

take over
too much
very high 
------------------
demand (people asking for help)

-----------------
'due to'

as a result
because of
the reason for 

------------------
'to book'/s /-ed
to schedule an appointment 
to write down the appointment in the schedule book and make official 

no more face-to-face appointments 

but.....

2 choices for free assistance online 

------------------------------
Words spelled alike but are pronounced differently.

Remember?

record REcord (verb) 
record reCORD (noun)

New word
REfund (verb) 

Please refund my money I overpaid for this dress. 

reFUND (noun) 

I hope to get a tax refund. 


REfund verb

reFUND noun

-----------------

standard
the rule 
the guideline
the same for everyone
regular
normal
common 
the norm 
usual 

----------------------
to deduct /s /-ed /-ing

deduction (noun) 
subtract
minus
less
save money 

She had many deductions to help reduce her tax liability (what she owes). 

I deducted some of the price of the dinner since you were not happy with the dessert. 

She is filing her taxes as an individual so she will receive the standard deduction. 

====================
Paying Taxes Examples 

Sources: 
IRS Internal Revenue Service
www.irs.gov

Taxes: Standard Deduction
https://www.irs.gov/pub/irs-pdf/p501.pdf

Taxes:Tax Brackets
https://www.irs.gov/filing/federal-income-tax-rates-and-brackets 

----------------------------------------
Standard Deduction 

Step 1.
Standard Deduction

The standard deduction is the same for everyone in your catergory (single, married filing separately, married filing jointly, head of household). 
----------------------------------------

filing as single individual
$30,000  in wages/income
         last year (2023)

$13,850 = standard deduction

=======
$16,150  this number 
         becomes your new taxable total 

The smaller total 'after' the standard deduction means you will pay less taxes 
-----------------------------------------

It is different for 
every couple 
you have to choose
based on the numbers

---------------------------------------

married filing separately
30,000  no children
30,000  no children
=======
60,000
27,700      (2x 13,850)
=======
32,300

--------------------------------------

married filing separately with children
30,000  
30,000  
======
60,000
20,800  (one spouse as "head of household")
=======
40,OOO
13,850  the other spouse
======
26,150

---------------------------------------

married filing jointly /with children
30,000  
30,000
-------
60,000
27,700   standard deduction 
=======
32,300

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Example from a student

Single / Individual 

$ 10,000 income
- 13,850 standard deduction
======== 

-  3,850 

(negative number means you have probably paid too much taxes and will get a refund)


=========================
BREAK 
10:04 - 10:24

==========================

Step 2
Tax Bracket 10%
 
$32,300 (total taxable income 'after the
         standard deduction')

You pay tax as a percentage of your total income in layers called "tax brackets". 

$ 2,220 tax 10% on the first
        22,000 
        (= taxes you will owe)

-----------------------------

Step 3 
Tax Bracket 12%

$32,200
-22,000
=======
$10,300 tax 12% on the next 
        amount up to $89,450
          
$ 1,030  = 10% of $10,300
         (taxes amount you owe)

You owe...

  $ 2,220  Step 2 total
+ $ 1,030  Step 3 total 
  ========
  $ 3,250   Total 


Good news!
You may have already paid all or most of your income tax because every week taxes are taken out of your paycheck. 

====================

IRS Internal Revenue Service

Taxes: Standard Deduction
https://www.irs.gov/pub/irs-pdf/p501.pdf

Taxes:Tax Brackets
https://www.irs.gov/filing/federal-income-tax-rates-and-brackets

======================================

H & R Block 

Website demonstration

Locating local H & R Block

Setting up an appointment online or phone.

=====================================

ITIN and SSN numbers
Review, Reading and Vocabulary
(Source: The Dream US https://www.thedream.us/current-scholars/career-success/itins/)

You need one of these numbers to file taxes. 

They appear on the "The List of What to Bring to Your Tax Appointment".

(Brief review of the list.)

-------------------------------------

ITIN
Individual readings (wheel of names) and review for comprehension


ITIN 

Individual
Taxpayer
Identification
Number

Vocabulary
nonresident 
aliens
dependents
citizen
resident alien
visa holders 

---------------------------

SSN 
ITINIndividual readings (wheel of names) and review for comprehension

SSN

Social
Security 
Number 

Vocabulary
eligible
receives 
------------------------------
Taxes 101
When
How

Review due date for taxes
Massachusetts extension

Vocabulary 
extension 
=================================

Laundy Care Symbols - Quiz 1

End of Class 
==================================