Looking for a video to explain how to file your first income tax return? Well, look no further! In the video “Income Tax Return Basics” (see link below) we covered the ins & outs of how taxes are calculated, what adjustments (a.k.a. deductions) are, as well as the standard versus itemized deduction. We also walked through a simplified 2021 income tax return example (the ones being filed in 2022) with real numbers.

In this video, we take that example and go through an actual 2021 Form U.S. Individual Income Tax Return. This scenario, where a person earns $50,000 in W2 income, pays some student loan interest and gets and education credit, should help solidify all of the topics from the other video AND help anyone who is wondering how to file your first income tax return! 😉

Tax Chit Chat S3 EP 1
How to file your first income tax return

🕘Timestamps:
0:00 Intro
0:30 Income tax scenario
1:30 Reporting income
1:50 Reporting adjustments
2:15 Standard vs. itemized deduction
2:30 Taxable income and tax
2:45 Credits
4:26 Payments
4:53 Total tax and refund or balance due
5:49 Recap!

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📚📺📻 Resources
Video - Income tax return basics: [ Ссылка ]
Blog Post – How Income Taxes Work: [ Ссылка ]
Jared’s Book How to Slash Your Taxes Legally and Ethically: [ Ссылка ]

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What is Tax Chit Chat?
Do you really "understand" taxes? Do you want to learn the best ways to cut your tax bill while staying on the good side of the IRS? Well, that's the point of this video series. Here, we hope to help YOU Slash Your Taxes Legally and Ethically! 😉

Subscribe to this channel to never miss another money/tax educating video!!

Here, you will learn tips and tricks to save money on taxes, build wealth, and make financially sound decisions that impact not only your future, but the future of generations to come.

Have questions? Want them possibly answered on a future episode? We would love to answer them! Simply shoot us an email at: questions@makemymoneymakesense.com

Your friends,
The Professionals at Wilson Rogers & Company

🎶 Song Credits:
Mist by Odonis Odonis
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🎨 Artwork:
Michael R. Voogd
www.VoogDesigns.com
(805) 768-4503

🎤 Host:
Jared R. Rogers, CPA
Wilson Rogers & Company, Inc. – Chicago, IL

The content and topics covered in this video are like those of The Money Guy Show, The Dave Ramsey Show and Your Money, Your Wealth in parts. A large influence on this series’ style can be found via content creators Dr. Lynn Richardson, Tommy Bryson and Minority Mindset.

DISCLAIMERS & DISCLOSURES ❤
**This video is meant to provide competent and reliable information regarding the subject matter covered. However, it is viewed with the understanding that the creator and provider are not engaged in rendering legal, financial or other professional advice. Laws and practices often vary from state to state, and as such, the information presented herein is educational in nature, is not individualized, and is not intended to serve as the primary or sole basis for your financial decisions.

If legal or expert assistance is required, the services of a professional should be sought. The creator and provider specifically disclaim any liability incurred from the use or application of the contents of this video.

Some of the links contained in this description are affiliate links. Wilson Rogers & Company is a participant in the Amazon Services LLC Associates Program (and others) which is an affiliate advertising program. Should you make a purchase via one of the links above, we will earn a small commission with no additional cost to you. To that end, we thank you for your support! 😉
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