Taxes Review & Preview

What percentage of 16 to 24 year olds were employed in 2024 according to the Bureau of Labor Statistics?

• 40.3%

• 54.5%

• 65.3%

• 80.3%

What is the purpose of a 1099 form?

• To report non-employee income

• To report full-time employee income

• To report business expenses

• To report employee benefits

What is the impact of electing the standard deduction when filing your taxes?

• It increases your taxable income

• It decreases your taxable income

• It increases your business expenses

• It decreases your business expenses

What’s the recommended course of action for gig workers who are unsure about their tax obligations?

• Don't file taxes

• Guess on their tax forms

• Consult with a tax professional

• Ask your clients to give you a W2 for tax filing

True or False? The final day to file your 2024 federal income tax return is April 15, 2025.

• True

• False