WorksheetsTaxes Quiz
Total questions: 30
Worksheet time: 23mins
What type of income is used to look up your "tax" in the tax table?
Adjusted gross income
Taxable income
Gross income
Net income
Wages, salary, tips, and "other compensation"
Taxable income
Gross income
Which of the following is NOT an income tax filing status?
Single
Married filing joint
Divorced
Head of household
An examination of tax returns by the IRS is called ___.
Tax evasion
Audit
Tax bracket
Itemization
Gross income-adjustments
Adjusted gross pay
Net pay
Which of the following is NOT a part of taxable income?
Tips
Interest earned
Child support
Dividends
Expenses that law allows you to subtract from your adjusted gross income
Deductions
Exemptions
"Married filing jointly" is an example of a(n)...
Benefit
Filing status
Personal exemption
Deduction
Willful failure to pay taxes is a crime known as...
Tax evasion
Fraud
Voluntary compliance
Auditing
Gross pay-deductions
Net Pay
Adjusted gross pay
Which of the following expenses is a deduction that is "itemizable"?
Medical expenses
Property taxes
Charitable donations
All of the above
Which of the following circumstances are exempt from paying taxes?
Someone whose earned income was less than $13,850 for the year
Someone who can be claimed as a dependent on someone else's taxes
Someone who is over the age of 65
All of the above
The formal term used for one of six possible categories a tax payer can fall into
Tax bracket
Filing status
Taxes that take a larger share of income as the amount of income grows. Ex. Income tax
Progressive
Regressive
Exemptions
Net Pay
An amount you may subtract from your income for each person who depends on your income to live.
Alimony
Child Support
Exemptions
Deductions
Taxable income is...
adjusted gross income-deductions
adjusted gross income -tax credits
adjusted gross income-deductions and tax credits
adjusted gross income-exemptions
Money paid to support a former spouse for the maintenance of a 'personal lifestyle'.
Alimony
Child Support
Exemptions
Deductions
Expenses the law allows you to subtract from your adjusted gross income.
Deductions
Exemptions
Alimony
Net Pay
The formal term used for one of six possible categories that a taxpayer can fall into with regard to their personal tax debt.
Tax bracket
Filing status
Form 1040
Form 1099
Listing allowable expenses on your tax return.
Itemizing
Exemptions
Deductions
Alimony
A form that reports income from dividends, interest, unemployment and/or social security.
Form 1099
Form 1040
W-2
Net Pay
What is income tax primarily based on?
The value of one's property
The total amount of money earned from employment
The total sales a business makes in a year
The amount of inheritance one receives
What is the term for a tax system where the tax rate decreases as the taxable amount increases?
Progressive
Regressive
Flat
Proportional
Which form is used to report wages paid to employees and the taxes withheld from them?
Form 1099
Form 1040
W-2
Form 1098
What is the term for the total income earned before any deductions or taxes are applied?
Net income
Gross income
Adjusted gross income
Taxable income
Which of the following is considered a tax credit?
Child tax credit
Standard deduction
Personal exemption
Itemized deduction
Taxes that take a smaller share of
income as the amount of income
grows.
Progressive
Regressive
What is the term for the amount of money left after all taxes and deductions are taken from your paycheck?
Gross pay
Net pay
Adjusted gross income
Taxable income
Taxes that take a larger share of
income as the amount of income
grows.
Progressive
Regressive
An amount you may subtract from
your income for each person who
depends on your income to live.
Deductions
Exemptions
