May 9, 2008, Newsletter Issue #227: Tax Time Math Time!

Tip of the Week

Are you dreading April 15th?
With the help of the IRS, you can turn tax time into math time!
Here are some fun math exercises your children can do, based on a *tax time* theme:

1. How much income tax would have to pay based on their weekly allowance. (OK, so unless your name is Rockefeller, their allowance won´t be much. Don´t let that stop you!)

2. We all want to be millionaires, right? What would the income tax be if we were?

3. How much of a deduction could we have taken if we had kept receipts for all of those Girl Scout Cookies?

4. The standard mileage deduction is 32.5 cents per mile. If we went on a business trip from San Francisco to New York (2917.8 miles) what would our deduction be? You can find out what the mileage to and from any two cities and use any cities you want on sites like mapquest.com!

5. How much tax would we owe the government if we lived in the United Kingdom? Australia? Canada? ** You can use this as a starting point to learn about these (or other) countries!

6. If we lived in a different state, how much tax would we owe? Print the forms and fill them out for handwriting practice!

7. Print Federal forms and fill in the answers to above, for handwriting practice!

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Thanks so much for reading the the Homeschool Tips Newsletter.

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Sincerely

Sarita Holzmann
President
Sonlight Curriculum, Ltd.

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