Taxes

Front

Who primarily uses our tax money? (hint: choose 2 correct answers) Options: Your employer, Large corporations, Federal and state government, Local Businesses

Back

Federal and state government

Front

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

Back

Private School Education

Front

Which of the following taxes is applied to wages, salaries, dividends, and interest earned? Corporate Income Tax, Income Tax, Estate Tax, Excise Tax

Back

Income Tax

Front

The W-4 form lets...

Back

your employer know how much to withhold from your paycheck

Front

Jess is 21, in college, & has a job that provides 65% of her support. Is she a dependent?

Back

No

Front

What item would you DEFINITELY see on a paystub? Options: Retirement, Healthcare, Gross Pay, Your occupation/role

Back

Gross Pay

Front

By claiming "exempt" on the W-4 form...

Back

You will NOT have income taxes withheld from your paycheck.

Front

True or False: All wages, tips, and bonuses are taxable unless specifically excluded.

Back

True

Front

Which of the following things is TRUE about the W-2 form EXCEPT:
- You get 1 W-2 form every year, even if you had multiple jobs
- It contains information you'll need to fill out a 1040
- It lets you know how much you earned last year
- It lets you know how much was withheld from your paychecks

Back

You get 1 W-2 form every year, even if you had multiple jobs

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.