Personal Finance 4

Which ar the two types of Tax deductions?

• Standard Deduction and Itemized Deduction

• Standard Deduction and Basic Deduction

• Taylor Deduction and Westland Deduction

• Conditional Deduction and Standard Deduction

After deducting exemptions, the remaining amount is know as?

• Salary

• Gross Income

• Net Income

• Taxable Income

What form reports your salary, wages, and taxes withheld for a given year?

• W-9

• 1040

• W-2

• 1099

What is the deadline to file your federal taxes?

• April 1st

• April 15th

• January 21st

• January 1st

Which answer is the only one of the five filing status categories?

• Head of Household

• Beneficiary

• Fiduciary

• Head of State

A financial deposit institution that is user-owned, nonprofit, and provide comprehensive financial services with lower fees and lower loan rates is known as a ?

• Savings and Loan Association

• Credit Union

• Mortgage Company

• Life Insurance

The following Problematic Financial Business offers loans on possessions, has higher fees- usually 3% per month is common, and is used for quick cash?

• Auto Title Loan

• Pay Day Loan

• Pawnshops

• Check-Cashing Outlets

The following Problematic Financial Business charge 1-20% of the face value of a check?

• Check Cashing Outlets

• Pay Day Loan

• Car Title Loan

• Rent-to-Own Centers

What are the first nine digits on the bottom of a check referred to as?

• Account Number

• Log Number

• Routing Number

• Check Number

Which answer is not one of the five filing status categories?

• Qualifying Widow or Widower with a Dependent

• Married, Filing Jointly

• Single or Legally Separated

• Common Law Marriage