Our tax money is spent on all of the following EXCEPT: Social Security, The Military, National Parks

FA Final Review

Flashcard
•
Life Skills
•
9th - 12th Grade
•
Hard
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9 questions
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1.
FLASHCARD QUESTION
Front
Back
Private School Education
2.
FLASHCARD QUESTION
Front
The W-4 form lets...
Back
your employer know how much to withhold from your paycheck
3.
FLASHCARD QUESTION
Front
What item would you DEFINITELY see on a paystub? Options: Retirement, Healthcare, Gross Pay, Your occupation/role
Back
Gross Pay
4.
FLASHCARD QUESTION
Front
Jason filed his 2022 tax return and owes money. This means that:
Back
His employer did not withhold enough money from his paychecks.
5.
FLASHCARD QUESTION
Front
Should Jason, who is 15 and earned $1450 at his job last summer, file a tax return?
Back
Yes, because he may get a refund.
6.
FLASHCARD QUESTION
Front
Which of the following is NOT a way you can file your taxes?
Options:
Through a tax professional
Mailing in a paper tax return to the Federal government
Using tax software like TurboTax
Through your employer's HR department
Back
Through your employer's HR department
7.
FLASHCARD QUESTION
Front
If a teen files a tax return, can the parent still claim him/her as a dependent?
Back
Yes, as long as the teen meets the dependency requirements
8.
FLASHCARD QUESTION
Front
An insurance company sells a seven-year term life insurance policy with a face value of $175,000 to a 44-year old woman. Her annual premium is $720. If the woman dies after paying premiums for six years, what is the insurance company’s gain or loss?
Back
Loss of $170,680
9.
FLASHCARD QUESTION
Front
Cookie has a monthly gross income of $3,900 and her expenses are $2,300. What is her debt-to-income ratio to the nearest percent?
Back
59%
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