1. Searching the Web for Tax Information. Using Web sites such as www.quicken.com , Kiplinger’s Personal Finance at www .kiplinger.com , or Money magazine at www.money.com , or library resources, obtain information about the tax implications of various financial planning decisions.
2. Planning Your Tax Payment. Survey several people about whether they get a federal tax refund or owe taxes each year. Obtain information about the following:
( a ) Do they usually get a refund or owe taxes when they file their federal tax return?
( b ) Is their situation (refund or payment) planned?
( c ) What are the reasons they want to get a refund each year?
( d ) Are there situations where getting a refund may not be a wise financial decision?
3. Researching Tax Questions. Use IRS publications and other reference materials to answer a specific tax question. Contact an IRS office to obtain an answer for the same question. What differences, if any, exist between the information sources?
4. Comparing Tax Services. Using Sheet 21 in the Personal Financial Planner, obtain information from two different tax preparation companies about the services they offer and the costs of their services. (Obj. 4)
5. Determining Tax Planning Activities. Survey friends and relatives about their tax planning strategies. You may use Sheet 22 from the Personal Financial Planner to obtain questions for your survey.
