Taxes Unit Test

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

The W-4 form lets...

What item would you DEFINITELY see on a paystub?

All wages, tips, and bonuses are taxable unless specifically excluded.

Who is Medicare designed to help?

Taxes that are charged on consumption items such as gasoline, hotel rooms, and airline tickets are called ______________________ taxes.

To calculate her net worth, Jordyn should use the following formula:

You should only receive a Form W-2 if you are

By accurately completing this form when you begin a new job, it can prevent you from overpaying taxes (allowing you to keep more money in each paycheck), and it can ensure you don't have a big balance due at tax time.

The IRS recommends that you complete a new Form W-4 every time a major life event occurs, such as: - Marriage - Birth of a child - A spouse gaining or losing a job - All of the above