

W5.Q1 Understanding Taxes Review
Flashcard
•
Business
•
12th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
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9 questions
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1.
FLASHCARD QUESTION
Front
What are taxes?
Back
Mandatory contributions to fund public goods and services.
2.
FLASHCARD QUESTION
Front
Which form tells your employer how much federal income tax to withhold from your paycheck?
Back
W-4
3.
FLASHCARD QUESTION
Front
What type of tax is used to fund Social Security and Medicare? Options: Income Tax, Property Tax, FICA Tax, Sales Tax
Back
FICA Tax
4.
FLASHCARD QUESTION
Front
Which tax is considered regressive? Options: Income Tax, Property Tax, Excise Tax
Back
Sales Tax
5.
FLASHCARD QUESTION
Front
Which form do you use to file your federal income tax return?
Back
1040
6.
FLASHCARD QUESTION
Front
What is a tax deduction?
Back
An amount that reduces your taxable income.
7.
FLASHCARD QUESTION
Front
What is the deadline to file federal taxes?
Back
April 15
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