Government Taxes Flashcard

Front

Which level of government tax is applicable to the 50 states?

Back

State

Front

Which of the following is a source of income? Buying groceries, Your job, Paying rent, Taking a loan

Back

Your job

Front

Which of the following is NOT a source of income? Your job, Interest your bank pays, Profits from selling real estate, Buying groceries

Back

Buying groceries

Front

Why does an employer withhold money from your paycheck?

Back

To pay income tax due on your income

Front

What should you do if you want to reduce your withholding?

Back

Use the Deductions Worksheet.

Front

Who do you give Form W-4 to after completing it?

Back

Your boss

Front

Which of the following is NOT required on Form W-4?
Social Security number,
Name,
Address,
Bank account number

Back

Bank account number

Front

What is the purpose of writing the number of allowances on Form W-4?

Back

To decrease the amount of tax withheld

Front

What is the employee's social security number on the W-2 form?

Back

123-45-6789

Front

What is the amount for Medicare wages and tips?

Back

50,000.00