Local Professional Teach Students Real-World Lessons on Taxes and Financial Management
Glen, MS – October 25, 2024
Today, students from Coach Mask's Personal Finance class and Mrs. Smith's College & Career Readiness class at Alcorn Central High School had a unique opportunity to hear from Beth Talley Cossit, Resident Manager at Sparks CPA in Corinth. Cossit shared insights into the often-mysterious world of taxes, providing students with valuable knowledge on tax filing, maximizing refunds, and the essential role of effective fiscal management.
As part of their second unit, Coach Mask's Personal Finance students delved into topics related to income and taxation. They examined where tax dollars are allocated, learned about different types of taxes — such as property tax, income tax, sales tax, and capital gains tax — and received hands-on practice interpreting W-2, W-4, and I-9 forms. One simulation, demonstrating payroll deductions, left many students surprised by the deductions reducing their "paychecks," a moment that prompted reflection on the value of education and skills in shaping future earning potential.
"Bringing in professionals like Mrs. Cossit allows students to engage with practical financial skills they will carry into adulthood," said Coach Mask. "We’re thrilled to see them gaining confidence in managing their finances."
Mrs. Smith echoed this sentiment, highlighting how understanding taxes and personal finances is a key component of their students' readiness for life after high school.
Beth Talley Cossit's visit underscored Alcorn Central High School’s commitment to preparing students for their futures, equipping them not only with knowledge but with an appreciation for responsible financial practices. The faculty expressed gratitude for Cossit’s time and expertise, recognizing the impact it has made on their students’ journey toward financial literacy.
The experience will help students be more informed and prepared as they enter the workforce, ready to handle deductions, taxes, and income management with confidence.
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