Consumer Ed: Chapter 2 (NEW)

These workers do not keep time cards or receive hourly pay

• Salaried workers

• Hourly wage workers

Are tips subject to federal income tax?

• Yes

• No

Are sales taxes indirect or direct?

• Indirect

• Direct

Employers with this many employees must offer health insurance to their workers

• 10

• 50

• 100

When is a 401(K) taxed?

• As money is added

• When money is withdrawn

• Never

Do employee benefits increase or decrease disposable income?

• Increase

• Decrease

Forms of unearned income that are taxable:

• Interest

• Dividends

• Both of these

Are Social Security payments, unemployment benefits, and workers' compensation in-cash or in-kind payments?

• In-cash

• In-kind

Can you claim an exemption for yourself?

• Yes

• No

Which is a quicker process?

• E-filing

• Paper filing

• They take the same amount of time