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Tax Breaks

Life Skills

12th Grade

Used 23+ times

Tax Breaks
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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a savings on a taxpayer’s liability?

Tax breaks

Tax deductions

Tax credits

Tax brackets

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following types of tax deduction allows the taxpayer to list out all of

his or her expenses for the year such as property tax, medical expenses, eligible

charity donations, unreimbursed business expense?

Standard Deduction

Itemized Deduction

Medical Deduction

Charity Deduction

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an amount of money a taxpayer can subtract from taxes

owed to the government?

Tax exemptions

Tax deductions

Tax credits

Tax brackets

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following types of tax credits are items directly deducted from the tax

liability until the it equals $0?

Nonrefundable tax credits

Refundable tax credits

Partially refundable credits

Total refundable credits

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are the most beneficial credits

Nonrefundable tax credits

Refundable tax credits

Partially refundable credits

Total refundable credits

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