All About Taxes

Front

Which of the following would be considered a "good"? getting an oil change, buying video game, having a haircut, hiring a tutor

Back

buying video game

Front

Which of the following would be considered a "service"? buying a toy car, hiring someone to cut your grass, sledding down hill with your friends, stretching before exercising

Back

hiring someone to cut your grass

Front

This is an examination of one's finances often conducted by government officials to determine if someone was not being honest with reporting their income/paying taxes.

Back

audit

Front

The more income a person earns, the __________ taxes are taken from their wages.

Back

more

Front

The amount of money an employee earns BEFORE taxes are taken out is known as your . . .

Back

gross pay

Front

The actual "take home" pay amount an employee receives AFTER taxes are taken out is your . . .

Back

net pay

Front

Are taxes a fairly new concept that has only been around for the past few hundred years?

Back

false

Front

If a person pays too much in taxes, they don’t get any of it back from the government.

Back

false

Front

Some individuals can be charged with tax evasion ONLY if they choose not to file a tax return.

Back

false

Front

It is possible that failure to pay income taxes may lead to that person serving jail time.

Back

true