Data Finance Semester Exam 2

Tax collected based on the amount of taxable income you earn.

• Property Tax

• Sales Tax

• Income Tax

Tax collected based on the value of items you purchase.

• Property Tax

• Sales Tax

• Income Tax

Tax collected based on the value on the property you own.

• Property Tax

• Sales Tax

• Income Tax

Married People who file one tax return.

• Married filing jointly

• Married filing separately

• Single

Unmarried Taxpayers

• Married filing jointly

• Married filing separately

• Single

Pay without any amounts withheld.

• Net Pay

• Gross Pay

• Form 1099

Pay after amounts are withheld.

• Net Pay

• Gross Pay

• Form 1099

A document that is used to report your income to the government and tells

          you if you owe money or are due a refund.

• W-2

• W-4

• Form 1040

  (Tax Return)

Lowering your taxes by not breaking any rules.   

• Tax Avoidance

• Tax Evasion

Lying or omitting items on your tax return, which is a crime.

• Tax Avoidance

• Tax Evasion