Taxes

Front

Who primarily uses our tax money?

Back

Federal and state government

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

Jason is 15 and earned $1450 at his job last summer. Should he file a tax return?

Back

Yes, because he may get a refund.

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

Front

Luisa earned $1,200 at her part-time job, and $500 from babysitting in cash. Which is TRUE?

Back

She will report her total income as $1,700.

Front

Earned income is any money you make from things like interest and dividends.

Back

False