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WorksheetsFinancial Coach Dan - Careers and taxes
Total questions: 25
Worksheet time: 13mins
Tax paid by anyone who earns and income
Personal Branding
Sales Tax
Social Security
Income Tax
A brief account of one's professional or work experience and qualifications, often submitted with an employment application
Social Security
Portfolio
Resume
Earned Income
The process by which we "market" ourselves to others; involves highlighting personal strengths, interests, and unique qualities and identifying goals
Personal Branding
Resume
Social Security
Tik Tok
Any income (wages/salary) that is generated by working
Social Security
Sales Tax
Earned Income
Passive Income
Money earned on a regular basis with little or no effort required to maintain it. Some things that produce passive income are real estate, intellectual property like books or internet content, or a business in which the owner is not actively involved
Income Tax
Resume
Social Security
Passive Income
A federal insurance program funded by taxpayer dollars that provides benefits to people who are retired, unemployed, or disabled
Social Security
Donald's Dollars
Fed Payments
Free Money
Tax on goods and services that goes to your state or local government (7% in Forsyth County - 4% goes to the state and 3% goes to the county)
Sales Tax
Property Tax
Income Tax
Grocery Tax
Income generated by selling an investment at a higher price than you paid for it
Windfall
Portfolio Income
Income Tax
Sales Tax
Taxes paid by anyone who owns property such as land, a home, or commercial real estate
Sales Tax
Personal Tax
Property Tax
Which of the following are characteristics of an effective personal goal?
It should be easy to accomplish
you should be able to measure it.
Is should be specific
Both specific and measurable
This tax pays for benefits that workers and families receive for either Social Security or Medicare.
Excise tax
Income tax
Federal Insurance Contribution Act (FICA)
Property tax
The process by which we ʺmarketʺ ourselves to others by highlighting personal strengths, interests, unique qualities and identifying goals
Personal taxes
Personal selling
Personal branding
Personal story
Which of the following statements about goal setting is false?
Your goals should be shared with the people closest to you
Your goals should have a deadline
Your goals should challenge you, yet be obtainable
once you have written down your goals there really is no reason to review them again
What is the difference between gross pay and net pay?
Gross and net pay are the same.
Net pay describes your pay after deductions; gross pay is before.
Gross pay describes your pay after deductions; net pay is before.
Gross pay is when you are not paid enough for the work you do.
You should only make and focus on one goal at a time
True
False
When applying for a job, you should
Follow up with the employer
Present yourself well
Provide a resume and cover letter
All of the above
IRS stands for
Independent Royal Society
Irrational Requirement Status
Internal Revenue Service
Instant Representation State
The Internal Revenue Service (IRS) is the federal government agency responsible for Tax collection and tax law enforcement
True
False
The government (Federal, State and Local) relies on taxes to
Pay for services such as roads, education and social services
make your house payment for you
take from the rich to give to the poor
Remind the citizens who is boss
Income generated by selling an investment at a higher price than you paid for it
Excise Income
Passive income
Portfolio Income
Retirement Income
It is expected that young adults will achieve the same standard of living as their parents shortly after graduating from college
True
False
A federal insurance program funded by taxpayer dollars that provides benefits to people who are retired, unemployed or disabled
Old Folks Accounts
Social Security
Withholding
Tax Insurance Program (TIP)
Sales tax and excise tax are both taxes on
Property
Income
Consumption
Wealth
Any income that is generated by working
Passive income
Earned Income
Variable Income
Fixed Income
Without contentment, your whole life will just be jumping from one thing to another, always hoping that the next thing will be the thing that will make you happy.
True
False
