Taxes and deductions

A type of tax that has a larger burden on people with lower incomes is a

• Progressive tax

• Regressive tax

• Proportional tax

• Flat tax

A tax where everyone pays the same tax rate is a

• Progressive tax

• Proportional tax

• Regressive tax

• Income tax

Sales tax is what kind of tax

• Progressive tax

• Regressive tax

• Proportional Tax

• Income tax

Federal income tax is a

• Progressive tax

• Regressive tax

• Proportional tax

• Flat tax

For my federal income tax, if I make 510,000 a year it is all taxed at the top rate of 37%

• False

• True

Indiana income tax is 7%

• True

• False

I pay all of my social security tax

• False

• True

The amount of money you make over a specific time period

• Income

• Wealth

• Wage

• Interest

By January 31st of each year what must my work send me to help with my taxes

• w-2

• w-4

• I-9

• 1040

Wealth is the value of the things you own minus the amount of money you owe other people

• True

• False