Con. Ed Ch. 5 Review
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show | True
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show | True
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show | True
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T/F: Gross income is the amount you receive after withholdings are subtracted from your gross pay. | show 🗑
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T/F: It is financially beneficial to save your money in a bank rather than let your employer withhold more taxes than you think you will owe for the year. | show 🗑
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show | False
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show | True
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The IRS will impose a fine on any taxpayer who fails to sign his or her tax return before it is filed. | show 🗑
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Employers pay twice as much social security and Medicare than each employee does. | show 🗑
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Taxes on property that will be inherited from a deceased person are called _____. a. property taxes b. estate taxes c. excise taxes d. tariffs | show 🗑
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show | a. gross income
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show | c. social security taxes
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Janette wants to take her family on a vacation to Orlando, Florida, where she expects to rent a car. The tax imposed on gasoline and airline travel is what type of tax? a. public good tax b. business tax c. excise tax d. sales tax | show 🗑
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show | b. adjusted gross income
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The number of ____ you claim on your W-4 determines the amount of money withheld from your pay. a. principles b. refunds c. allowances d. deductions | show 🗑
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A set of forms that taxpayer use to calculate their tax obligation is a ____. a. W-4 b. W-2 c. tax return d. bank statement | show 🗑
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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