Taxes Love you!

Who primarily uses our tax money? (hint: choose 2 correct answers)

• Your employer

• Large corporations

• Federal and state government

• Local Businesses

Tags

CCSS.RI.11-12.8

CCSS.RI.9-10.7

CCSS.RL.11-12.8

CCSS.RL.8.7

CCSS.RL.9-10.7

Our tax money is spent on all of the following EXCEPT:

• Social Security

• The Military

• Private School Education

• National Parks

Tags

CCSS.6.RP.A.3B

What item would you DEFINITELY see on a paystub?

• Retirement

• Healthcare

• Gross Pay

• Your occupation/role

Tags

CCSS.6.NS.B.3

Jason filed his 2022 tax return and owes money. If he doesn't want to pay a fee, when should he pay this amount by?

• April 18th

• October 15th

• December 31st

• January 1st of the next year

Tags

CCSS.6.NS.B.3

True or False: All wages, tips, and bonuses are taxable unless specifically excluded.

• True

• False

Tags

CCSS.7.NS.A.1D

Which of the following things is TRUE about the W-2 form EXCEPT...

• You get 1 W-2 form every year, even if you had multiple jobs

• It contains information you'll need to fill out a 1040

• It lets you know how much you earned last year

• It lets you know how much was withheld from your paychecks

The amount an employer removes from your paycheck each month to pay for taxes is called?

• Itemized Deduction

• Withholding

• Exemption

• Dependent

Tags

CCSS.7.RP.A.3

IRS stands for...

• Important Revenue Service

• Internal Reports System

• Internal Revenue Service

• International Reserve Service

Who fills out a w4 and when?

• You fill out a w4 when you start a new job.

• Your employer fills out your w4 and mails to you by January 31.

• You fill out a w4 when you file your taxes.

• Your employer fills out a w4 when you leave your job.

The amount of money that actually hits your bank your bank account is called your _____ Income.

• Gross

• Net

• Taxable

• Payable

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4