
Taxation Concepts
Flashcard
•
Business
•
10th Grade
•
Practice Problem
•
Medium
Edward Marchant
Used 6+ times
FREE Resource
Student preview

42 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Ability to Pay Principle
Back
Principle that a fair tax is one that takes into consideration the taxpayer’s relative wealth and income when determining the amount of tax levied.
2.
FLASHCARD QUESTION
Front
Adjustable Gross Income (AGI)
Back
Total taxable income reported on your federal Form 1040 minus any adjustments to income.
3.
FLASHCARD QUESTION
Front
Adjustment to Income
Back
Qualified expenses that reduce your taxable income on your federal Form 1040.
4.
FLASHCARD QUESTION
Front
American Opportunity Credit
Back
Tax credit that pays up to 100% of qualified tuition and expenses such as books and course materials for college students in their first four years of undergraduate study.
5.
FLASHCARD QUESTION
Front
Audit
Back
Process during which the IRS reviews the information in your tax return and requests additional information from you.
6.
FLASHCARD QUESTION
Front
Benefits Received Principle
Back
Principle that it is fair for those who receive the benefit of tax expenditure to pay the tax.
7.
FLASHCARD QUESTION
Front
Childcare Tax Credit
Back
Federal income tax credit to help defray the cost of childcare for working families.
Create a free account and access millions of resources
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?
Similar Resources on Wayground
40 questions
Washington and Adams Presidency
Flashcard
•
8th Grade
34 questions
MOD Civil War Test
Flashcard
•
8th Grade
30 questions
Edexcel Business GCSE Y11
Flashcard
•
10th Grade
36 questions
Avancemos 2 Unit 1.2
Flashcard
•
9th - 12th Grade
35 questions
[EN 10] Unit 6 | Pronun & Vocab
Flashcard
•
KG
36 questions
Final Exam Review (Part 2)
Flashcard
•
12th Grade
37 questions
Unit 3: Ottoman, Safavid, and Mughal Empires
Flashcard
•
9th Grade
40 questions
EOCA Government Review
Flashcard
•
12th Grade
Popular Resources on Wayground
10 questions
Honoring the Significance of Veterans Day
Interactive video
•
6th - 10th Grade
9 questions
FOREST Community of Caring
Lesson
•
1st - 5th Grade
10 questions
Exploring Veterans Day: Facts and Celebrations for Kids
Interactive video
•
6th - 10th Grade
19 questions
Veterans Day
Quiz
•
5th Grade
14 questions
General Technology Use Quiz
Quiz
•
8th Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
15 questions
Circuits, Light Energy, and Forces
Quiz
•
5th Grade
19 questions
Thanksgiving Trivia
Quiz
•
6th Grade