Taxes

_______- is sent out by your employer showing how much you have paid in taxes throughout the year

• W-2

• W-4

• 1099

• 1040

________- is filled out when you get a new job to calculate how much you need to pay in taxes

• W-2

• W-4

• 1099

• 1040

_________- the form for independent contractors to pay taxes

• W-4

• W-2

• 1099

• 1040

_________-the form you fill out to pay your taxes every year

• W-2

• W-4

• 1099

• 1040

________-money received either earned or unearned

• Income

• Wages

• Gifts

• Interest

__________-tax rate rises as taxpayer’s income rises

• Progressive

• Regressive

• Flat

• Negative

_________-same tax rate is paid by people at all income levels

• Progressive

• Regressive

• Proportional

• Negative

____________-taxpayers who earn lower incomes pay a higher percentage of their income than those who earn higher incomes

• Progressive

• Regressive

• Proportional

• Negative

___________- money paid from your paycheck to the state and federal government

• Income tax

• Sales tax

• Property Tax

• Estate Tax

FICA includes which of the following

• Medicare

• Social Security

• Income Tax

• Sales Tax