Taxes

Curtis purchased a new pair of jeans for $18. When Curtis pays for his jeans his total is almost $20 because of taxes. Which type of tax does Curtis pay?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax

Tags

CCSS.6.RP.A.3B

Louis's dad pays a tax to the federal government each year based off the money he earns from his lawn mowing business. What type of tax does Louis's dad pay each year?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax

Tags

CCSS.RI.7.2

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.8.1

CCSS.RL.9-10.2

What are Taxes?

• A Sum of money that the Federal government pays its citizens for good behavior.
• A Sum of Money that the State Mandates its Businesses pay in order to support the cleaning of their parking lot. 
• A Sum of Money that the Federal Government charges its citizens to clean up their messes. 
• A sum of money that the State or Federal Government mandates its citizens pay in order to support the government itself and all of its services. 

What is the Social Security tax rate removed through payroll tax?

• 6.15%
  6.20
• 6.20%
• 6.45%
• 6.50%

What is Medicare

• A retirement supplement program
• A VA benefits program
• A program for Low-Income Families
• A medical program for senior citizens

What is the tax rate removed through payroll tax for Medicare

• 1.65%
• 1.25%
• 1.45%
• 1.50%

Tags

CCSS.7.RP.A.3

When you combine Medicare and Social Security what Tax do you have?

• FICO
• FICE
• FACE
• FICA

The W-4 form lets...

• the government know how much you paid in taxes last year

• your employer know how much to withhold from your paycheck

• the 3 major credit bureaus know how many dependents you have

• you know how much you paid in taxes last year

The more allowances you claim on your W-4...

• The more money you will see in your paycheck

• The less money you will see in your paycheck

• The # of allowances has no impact on your paycheck

• You don't claim allowances on a W-4

A tax on property being transferred after the owner's death is called the:

• Estate tax
• Excise tax
• Gift Tax
• Customs Duty