A _________ tax structure occurs when the percentage of income paid in taxes increases as income increases (i.e. someone with an income of $50,000 may pay 15%, but someone with an income of $500,000 may pay 25%).

A __________ tax structure occurs when the percentage of income paid in taxes decreases as income increases (e.g. an excise tax would take a higher percentage of a lower income person’s money).

An example of a progressive tax is the ____________. This tax is a tax on the amount of income people earn. People pay a percentage of their income in taxes. People who earn more pay a higher percentage of their income in taxes.

An example of a regressive tax is the:

____________ and ___________, are considered "regressive." Since the goods get taxed at the same percentage, those with lower incomes pay a larger percentage of their income in sales and excise taxes.

The Federal Government relies mainly on _________ taxes for its revenue.

State governments depend on both _______ and ______ taxes for their revenue.

Most county and city/local governments use _______ taxes to raise their revenue.

All of the following are examples of mandatory (automatic) deductions EXCEPT:

Taxes are government fees on business and individual income, activities, products, or property that people are required to pay. The tax ________ collected is used to provide government goods and services for citizens and to allow the government to operate.

People also voluntarily have money deducted from their paychecks for expenses such as medical insurance or savings in retirement accounts.

_____ pay is the amount people earn per pay period before any deductions or taxes are paid. ____ pay is the amount people receive after taxes and other deductions are taken out of gross pay.

The _____ allows employers to determine what amount of income tax they should deduct from each employee’s paycheck based on that person’s situation, such as whether he or she is married or single.

Each April, anyone who earned income must file a federal income tax return with the IRS using the _________reporting income earned and taxes paid in the previous year. If over the course of the year more of your income than necessary was withheld, you will receive a refund from the federal government.

In a ____________ , the Fed will lower interest rates (people buy more) and increase the money supply.

___________ is a federal program that provides benefits for retirees, the disabled, and the minor children of deceased workers.

___________ is a federal program that provides health insurance for people 65 years of age or older and people under 65 with certain disabilities.

FICA stands for Federal Insurance Contributions Act. The FICA tax is a U.S. payroll tax used to fund __________ and __________.

This form is a summary of a person’s earning and tax withholding for an entire year. Workers receive a personalized _______ from their employers around the end of January for the previous year’s work.

The tax revenue collected from workers is added together to pay for the _____ and _____ that federal, state, and local governments provide for citizens and to pay the costs of operating the government.

Interviews are used for:

If you sign up for a retirement savings plan, you select a dollar amount or percentage of your salary that you’d like taken out of each paycheck to go into a ________ or other retirement savings option.

Angela’s pre-deduction earnings for this pay period are:

How much total tax did Angela pay the federal government during this pay period?

Angela’s post-deduction earnings for the year are:

The correct sequence (from what happens first to last) of the tax timeline is:

_________ is an electronic payment from one bank account to another. For example, money moves from an employer’s bank account to an employee’s bank account,

Angela’s Year-to-Date retirements savings are:

All of the following are some helpful tips to help you to take advantage of every interviewing opportunity EXCEPT.

This form is sent to the taxpayer to show interest income earned during the tax year.

_______________ is the revenue service of the United States federal government.

Under current law, if your plan covers children, you can now add or keep your children on your health insurance policy until they turn _____ years old.

___________ paid on income from employment or investments.

___________ paid on income to finance social insurance programs.

Based on the infographic, what you can you infer about what the Federal Government uses taxes on?

No matter how much preparation you’ve done for an interview, there’s one thing that can derail your chances of getting the job – social media. Not even an amazing interview can make up for offensive comments, posts, or pictures. Before a job interview, take the time to do a thorough social media audit on all of your accounts. Set aside a good amount of time to do this, as you don’t want to rush and risk missing something you need to delete. A good rule of thumb for content is this: if you wouldn’t show it to your grandparents, don’t post it, and delete it if it’s already posted.

Which of the following is a recommended component of a Social Media audit prior to a job interview?

It is critical to set your Social Media accounts to private. This is not a fool-proof option, because you can still be tagged in a photo or post that someone else has shared. With platforms constantly changing their privacy settings, you can never be too sure that setting your current profile to private will also archive and protect your old content.

A 401(k) plan is an employer-sponsored retirement account that allows employees to contribute a portion of their paycheck to save for retirement. Oftentimes, employers may match part of these contributions, but it is not required. When you enroll in a 401(k) plan, you’re agreeing to put a percentage of your paycheck into a retirement investment account. That money is then put into a savings account and can grow tax-deferred. When it comes time to make withdrawals in retirement, you may have to pay taxes on the money you take out, depending on the type of plan you have.