WorksheetsPF: Chapter 10 Lesson 2 Taxes on Your Paycheck
Total questions: 7
Worksheet time: 4mins
What are the three kinds of income?
Active income, passive income, and investment income
Salary income, rental income, and portfolio income
Wage income, rental income, and portfolio income
Earned income, passive income, and investment income
Which type of income requires little to no effort to earn?
Earned income
Portfolio income
Passive income
Investment income
What is earned income?
Money earned from investments
Money earned from renting out property
Money earned from selling assets
Money earned by working
What is passive income?
Money earned from investments
Money earned from selling assets
Money earned by working
Money earned from renting out property
What is portfolio income?
Money earned from selling assets
Money earned from renting out property
Money earned by working
Money earned from investments
How is earned income taxed?
At the federal level
At the state level
At the individual level
At the employer level
What form do you need to fill out when starting a job to determine tax withholding?
Form 1040
Form W-4
Form W-2
Form W-9
