Unit 3: Taxes Test

What is the day all taxes need to be filed?

• April 15th

• April 1st

• January 31st

Which form do you fill out before starting a job?

• 1099

• W2

• W4

What is a dependent?

• A variable on your taxes

• Somebody who relies on you financially

• Only children

Taxes will be taken out according to marital status. true or false?

• True

• False

What is the standard deduction for a single person?

• $30,000

• $14,600

• $29,200

A progressive tax system is one in which...

• Relies on democratic ideas

• Is only found in the United States

• Taxes are assigned depending on a person's income

Tax brackets are charts that...

• Show income levels and tax to that level

• Show the amount of tax that you have paid so far

• Show the interest rate that Banks assign to accounts

What is the day that W-2 forms should be released to you by in order to file taxes?

• July 4th

• April 1st

• January 31st

A 1099 form is a form for _____ workers

• Part-time employees

• Full-time employees

• Gig workers

Investments (retirement accounts) need to be included in a W-4 form. True or false?

• True

• False