Video Description:
*This is not a detailed description of how to fill out a 1040 form. For help with your individual federal and state tax return, visit https://www.irs.gov/ to get free tax software, or follow this link: https://www.irs.gov/individuals/free-… to learn about the IRS’s V.I.T.A. program.
In this episode of the CMPF we confront the horror of filing your federal income tax for the first time. We discuss why you don’t really need a tax prepper for basic tax returns and show you where you can get free tax software apart from Turbo Tax.
Then we plunge into the abyss and examine Income Tax 101 and answer the questions that drive most tax payers crazy: What is a tax? What is a 1040? A W4? A W2? What are deductions? Should I take the standard deduction? Can we gaze into the tax code without going mad?
Finally we look at what your tax refund really means, and why it’s better to get a small one by contributing to your 401K. So come with us and embrace the insanity that is taxes.
Helpful Links:
https://www.irs.gov/individuals/free-…
https://www.irs.gov/
If you have comments, questions, or suggestions for future episodes, email us at communistfinance@gmail.com
Or follow us on Instagram @ComradeRourke
Books: “Taxes in America” by Leonard Burman and Joel Slemrod
“Personal Finance for Dummies” by Eric Tyson
The Communist Manifesto for Personal Finance is the only program that teaches you how to seize your means of production. We synthesize personal finance advice with Communist Doctrine to help you survive the burning hellscape that is late stage capitalism.
Want to know how to create a budget? What a a credit score is? How to get out of debt? We’ll answer all these answers and give you the means to fight back against the capitalist pigs.
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