Personal Taxes

What is it when a gift is made by an individual or an organization to a non-profit organization or a private foundation?

• Shared Deduction

• Charitable Donation

• Tax Break

• Tax Credit

What is a direct levied "Seizure of property" on income of a person?

• Personal Tax

• Tax Liability

• Unearned Income

• Itemized Deduction

What is the amount of money a taxpayer can subtract from taxes owed to the government?

• Tax Deduction

• Itemized Deduction

• Tax Break

• Tax Credit

What is it called: income which results from the personal labor or service of an individual?

• Displaced Income

• Earned Income

What is: eligible expenses individual taxpayers can claim on federal income tax returns which decrease their taxable income

• Itemized Deduction

• Tax Credit

• Standard Deduction

• Tax Liability

What is income which is not gained by labor, service or skill

• Unearned Income

• Tax Credit

• Earned Income

• Standard Deduction

What is: eligible expenses individual taxpayers can claim on federal income tax returns which decrease their taxable income

• Standard Deduction

• Itemized Deduction

• Tax Credit

• Tax Deduction

What is: range of incomes subject to a certain income tax rate

• Tax bracket
• Tax exemption
• Tax break
• Tax refund

What is: portion of income which is not subject to tax and can be used to reduce a tax bill

• Tax Liability

• Charitable Donation

• Standard Deduction

• Tax Credit

What is: The total amount of tax debt owed by an individual, corporation or other entity to a taxing authority such as the Internal Revenue Service (IRS)

• Tax Liability

• Standard Deduction

• Tax Deduction

• Earned Income