NEW
Font size
WorksheetsTax Review
Total questions: 15
Worksheet time: 6mins
Federal and state income taxes
1099
________ are taxes paid when buying products.
Sales tax
Estate tax
Income tax
payroll tax
You're working at Target, and about to get your paycheck. Some money has been taken out! Which is it?
Sales tax
Property tax
Income tax
Net tax
Which tax is the primary revenue source of the Federal government?
inheritance tax
Income Tax
Estate Tax
infrastructure tax
The W-4 form lets...
the government know how much you paid in taxes last year
your employer know how much to withhold from your paycheck
the 3 major credit bureaus know how many dependents you have
you know how much you paid in taxes last year
Jess is 21, in college, & has a job that provides 65% of her support. Is she a dependent?
Yes
No
The more allowances you claim on your W-4...
The more money you will see in your paycheck
The less money you will see in your paycheck
The # of allowances has no impact on your paycheck
You don't claim allowances on a W-4
Payroll Tax is-
the amount of money you actually get to take home
FREE MONEY
tax taken out of your paycheck by your employer or boss
tax when you buy something
When you contribute to your IRA, it is considered
tax exempt
tax deferred
taxable income
taxed income
Federal income tax is a
flat tax
progressive tax
proportional tax
regressive tax
Earned income includes
interest from banks
dividends from stock
bonuses from work
student loan interest
The primary income for the federal government comes from
inheritance tax
corporate tax
payroll tax
income tax
An amount of money set by the IRS that is not taxed
itemized deductions
taxable income
standard deduction
adjustable income
The amount of income on which a person's income tax is computed
taxable income
adjustable gross income
gross pay
take home pay
