Personal Finance | Topic 5 Income & Taxes Quiz
Authored by Travisray Salyers
Business
10th Grade
Used 13+ times
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15 questions
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1.
MATCH QUESTION
1 min • 5 pts
Match the following Tax Forms
1099
I am received whenever you start a job
You list information about yourself and your family on me
I determine how much money gets taken out of each paycheck
1040
I am completed every April
Form used to File your taxes
I-9
I am received whenever you start a job
You use me to prove that you are eligible to work in the U.S.
You must provide forms of identification when submitting me
Used in Identify Verification
W-4
I am received in January
There is one of me for every job you work
You can tell how much you earned and how much you paid in taxes by reading me
W-2
I am received in January
You get me if you are not an employee but were paid by a company
You can also get me for other types of income, such as gains and losses in brokerage accounts, dividend and interest payments, and more
You probably didn’t get taxes withheld if you got me, so you may have a big tax bill coming up
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a type of Income
Earned Income
Passive Income
Portfolio Income
Gift Income
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following are included in FICA
Federal Income Tax
State Income State
Social Security Tax
Medicare Tax
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What date is Tax Day?
January 31st
April 15th
April 1st
December 25th
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a report that a taxpayer has to submit annually to the government and is used to determine a person's tax liability
Gross Income
Net Income
Tax Credit
Tax Return
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the amount you earn before taxes and other payroll deductions
Earned Income
Net Income
Taxable Income
Gross Income
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay
Net Income
Earned Income
Gross Income
Gross Profit
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