WorksheetsChapter 14 - Team Open Note Quiz
Total questions: 25
Worksheet time: 12mins
If a teen files a tax return, can the parent still claim him/her as a dependent?
Yes. All teens are dependents until they are 18 years old
No. If a teen files a tax return, he/she cannot be claimed
Yes, as long as the teen meets the dependency requirements
Yes, but the parent has to add the teen's income to theirs
Luisa earned $1,200 at her part-time job, and $500 from babysitting in cash. Which is TRUE?
She will report her total income as $1,700.
She will report her total income as $1,200.
She will report her total income as $500.
Luisa is required to file a tax return.
Jason filed his tax return and owes money. If he doesn't want to pay a fee, when should he pay this amount by?
April 15th
October 15th
December 31st
January 1st of the next year
IRS stands for
Internal Revenge Service
International Revenue System
Internal Revenue Service
Inspection Ravioli Sauce
When you receive a new job, you are mandated to file a
Complaint
Divorce
W-4
W-2
A fixed amount all people are allowed to deduct from their adjusted gross income to reduce their tax liability
Standard Deduction
Itemized Deduction
1. Which is MOST LIKELY a responsibility of a local government in California?
collecting taxes
patrolling state highways
maintaining the state constitution
overseeing the food supply
3. Which item is the BEST example of a public good or service?
education
movie theaters
television
shopping malls
4. Local governments generally receive their highest amounts of revenue from
federal government
property taxes.
driver’s license fees.
excise taxes.
6. Property taxes, fees, and lottery funds are all
forms of state revenue.
Involuntary contributions.
voluntary contributions.
forms of national revenue.
7. The general sales tax is placed on customer purchases of most items bought at retail stores. The sales tax is a percentage of the price of an item. The state revenue department collects all of the sales tax revenue and returns the local portion to the appropriate counties, cities, and school systems. Based on this information, what would happen if the sales tax were cut?
Businesses would become less profitable.
The state would lose a majority of its funding.
Property taxes would also be cut.
Funding for schools would be reduced.
8. The state of California provides services like education, road maintenance, and environmental protection to all of its citizens. Where does the majority of the revenue for such services come from?
private businesses
the federal government
the state treasury
taxes paid by the citizens
Our tax money is spent on all of the following EXCEPT:
Social Security
The Military
Private School Education
National Parks
True or False: A teen's earned income can be reported on a parent's tax return.
True
False
