LYFE Accounting

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Tax Basics For Beginners (Taxes 101)

Video Overview & Insights

👉 Work with Us: https://schedule.lyfetaxes.com/discoveryapplication?video=Cox8rLXYAGQ

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I got confused where you mention the progressive taxing. In the example, you said we would be taxed 10,924 @ 24% and the rest would be taxed at the Other tax rates. Is the OTHER in this example, the 89,076? And if so what is the “other tax rates”? I was following then that threw me off. Thank you for sharing!!

— @nikkiau1

The tax code is over 70,000 pages long, so it's understandable why so many people find taxes to be challenging, but I'm here to help explain taxes simply and easily for everyone with my tax basics for beginners.

If you watch this entire video then you will discover:

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Some I could make sense of, but to be honest, the majority of information being said went kinda right over my head (Maybe it's cuz I'm 16 idk😭); But thank you for this entry guide anyway, I really wanna get this.

— @JusJaxxy

- How the tax system works

- How taxes are calculated (looking at taxable income, tax deductions, and tax credits)

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💚💚💚💚💚💚💚

— @maryjayne628

- Why taxes work differently for businesses and investors

- Review how to file a tax return

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Good Video

— @calebdyson6239

- How to put together a tax plan

Timestamps

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I need to do my taxes.

— @Fred-p9p

Taxes 101 (0:00)

#1 What are taxes? (1:50)

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Fantastic breakdown!

— @AngelDMomo

#2 How tax system works (3:15)

#3 How taxes are calcualated (5:50)

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I found this amazing video during my Financial Algebra class and it was very helpful!! Would definitely recommend to young adults and those who don’t quite understand the importance of taxes!

— @waltgreene5444

#4 Tax Deductions vs Tax Credits (7:34)

#5 Tax Incentives (9:15)

“

More uncomfortable truth…

Congratulations to every taxpayer — everyone who works for and begs for the digits the top of the pyramid conjures from nothing. Your support of this pyramid schematic has done great damage over the last 100 years. You funded your own cage. 😏

The bench doesn’t appreciate you.

— @Jackson-l3r

#6 Different Types of Income (11:25)

#7 How to File Taxes (13:00)

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the tax bracket is bullshit. how do I get taxed more for working harder

— @kristakennedy7370

#8 How to Create a Simple Tax Plan (14:42)

My Little Secret (17:37)

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thank you for these informations 👍

— @Daniel_Brooks_1

More User Perspectives

Can I just hire you???

@stephanieporter3549

I am once again needing to review how to do tons of taxes like a big adult would because adults do taxes 24/7 like law abiding citizens. Thank you for teaching me how to do taxes and for reassuring I'm an adult above the age of 18

@lieutenantlobster_gorbman

Taxes, work, gambling, drinking, mortgage, politics, marriage, nightclubs, retirement

@cristinaaglet2748

Thank you so much it helped alot

@IvanPena-z9r

As a grown adult, this video helped my file my taxes. Thanks

@burstroombutquality6454

I'm an adult and I agree with this video about taxes and adult education, I am filing it so good right now!

@Heroinbrian

I'm old!

@isopod103

Thank you sir. This was very informative and now I understand taxes.

@legenddigenius5668

As a big adult who filed their taxes I can confirm that the current economy is very bad, I can’t afford ice cream for my children

@fbi1083

Thank you so much for explaining so well in this video sir

☺️🙏🏻

@nonexistenty4152

Thank you as a legal adult

@Burstroom

As a legal adult, I am so glad to be able to show this to my 2 children

@Burstroom

As an Adult who turned 20 last summer this helps me pay taxes correctly. youtube. IM A FREAKING ADULT LET ME PIN COMMENTS ON MY YOUTUBE VIDEOS

@Sworduelvin

You know too much talking, please just teach me how to fillout a 1040. Ty

@maryfuentes5110

tysm for this videooo

@dani-kg2ly

I’m 23 and this video is very informative

@callmewumple

As a woman of the age of 27, I give you my thanks for making this video. It really helps me out a lot! I might show this to my children. This video helps me with taxes, thank you for taking the time out of your life to make this. Thank you!

@TheAwesomeClubz

i love doing my fucking taxes

@alexhe6514

Very helpful video, I commend your efforts! Being over 20 years old, this video is relevant to what I need to learn as an adult. Thank you!

@frozenfury1634

day by day i become slightly less incompetent at filing my taxes. watch out

@marcescens

As a 80 year old man Ts peak

@KTL.collective

Oh, this makes total sense! Excited to finally learn more about taxes, my accountant usually does them for me but this year I want to learn myself!

@cambrian_era

I love being a 37 year old watching this

@ratmcrat

Very good video to watch as a 23 year old man but the progressive taxing part is a tad bit confusing.

@MasonDupont-f9q

Look youtube, this is the second tax-related video that I, an adult over the age of 18, have watched today. This is my most enjoyed pastime and something that I do regularly. I only watch content directed at adults such as this video on taxes. Evidently, I must be an adult over the age of 18.

@burstroombutquality6454

I love being a taxes adult id credit card

@MrMacNCheeseGaming

As a grow adult who taxes as a adult this is helpful

@Dart10201

i love being an adult in a 9-5

@scjay

Comments are weirdos why are we announcing we’re adults ?

@britnicalloway71

The ironic thing is that I'm actually an adult but I just don't wanna give my id to YouTube. But yes, taxes.

@StrawberryVoids

dang been working in a factory for 30 years and this is really helpful, thanks!
My adult life is so hard but I must continue being an adult while being an adult

@mrbuckett5099

I am a 40 year old woman learning how to file my taxes

@someofthemany

As a 74 year old man with 30 kids and 102 girlfriends and 3 wifes, this was a very informative video. I sure hope youtube doesn’t suspect me to be a minor.

@eggnolonger

i love filing taxes i cant stop /silly

@hmmbutwhatif

Wow, this video is so amazing for me, an adult, who needs to pay taxes.

@nitrgenmonoxide