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Income & Taxes QUIZ!

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

Which of the following forms is meant to verify EMPLOYMENT requirements via multiple forms of identity?

a)

W2 Form

b)

W4 Form

c)

1040EZ

d)

I9 Form

2.

Which of the following forms is meant to determine your allowances / withholdings / deductions and affects your FEDERAL and STATE income tax %? Hint: YOU fill it out

a)

W2 Form

b)

W4 Form

c)

1040EZ

d)

I9 Form

3.

Which of the following forms is a summary of what you made & what you paid? Hint: You DON'T fill it out, but it IS needed in order to file your taxes

a)

W2 Form

b)

W4 Form

c)

1040EZ

d)

I9 Form

4.

Which of the following forms is the actual form you fill out when you file your taxes?

a)

W2 Form

b)

W4 Form

c)

1040EZ

d)

I9 Form

5.

Which type of income fits the description below:


Income made through your every day job

a)

Passive

b)

Present

c)

Earned

d)

Portfolio

6.

Which type of income fits the description below:


Income made through investments

a)

Passive

b)

Present

c)

Earned

d)

Portfolio

7.

Which type of income fits the description below:


Income made through a source that isn't your day to day job

a)

Passive

b)

Present

c)

Earned

d)

Portfolio

8.

Which of the following taxes is NOT on your paystub?

a)

Sales tax

b)

Federal Income tax

c)

FICA

d)

State Income tax

9.

What % is paid to FICA overall? (What is the flat rate?)

a)

6.2%

b)

10%

c)

12%

d)

12.4%

10.

What % is paid to FICA by you personally, assuming you have a position that pays into social security?

a)

6.2%

b)

10%

c)

12%

d)

12.4%