WorksheetsThe Basics of Taxes
Total questions: 14
Worksheet time: 7mins
This tax funds the Social Security and Medicare programs
Income tax
Payroll tax
Property tax
Sales tax
Excise tax
The fee to license a car is this type of tax
Income tax
Payroll tax
Property tax
Sales tax
Excise tax
A tax on earned and unearned income
Income tax
Payroll tax
Property tax
Sales tax
Excise tax
The tax on airline tickets and gasoline
Income tax
Excise tax
Payroll tax
Property tax
Sales tax
This tax is determined by a set percentage of earned income
Income tax
Payroll tax
Property tax
Sales tax
Excise tax
A tax on purchased goods and services
Income tax
Payroll Tax
Property tax
Sales tax
Excise tax
The specific amount paid for this tax depends on many factors but increases as income increases.
Income tax
Payroll tax
Property tax
Sales tax
Excise tax
Mark all the benefits you receive from the taxes you pay.
schools
roads
grocery stores
fire station
banks
What is the difference between earned and unearned income?
Earned is working for pay and wages are an example.
Unearned is only for income not earned from pay and interest from a savings account is an example.
Earned can include pay for wages and savings interest.
Which one does the Social Security Program not provide for?
Retirement
Profound disabilities
Premature death of a parent
Premature death of a spouse
Premature death of a spouse in a family with children.
What is the Medicare program?
A program for Retirees
A health insurance for senior citizens
A health insurance program for people who can't afford insurance
A insurance program for people with profound disabilities
How much does the employer have to contribute for payroll taxes?
One half of what the employee pays
They have to match what the employee pays
They don't have to contribute at all
They have an option to match the employee's pay
Mark all the examples of personal property that taxes may be paid on besides an automobile.
boat
cell phone
cash in the bank
land
What is one difference between sales tax and excise tax?
Sales tax is already added the price of an item.
Excise tax is added at the time of the sale.
Sales tax is added at the time of the sale.
Excise tax is already added in the cost of an item
