Unit 1 Test - Taxes
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Last updated about 1 year ago
27 questions
1
How much did Jose earn this pay period?
How much did Jose earn this pay period?
1
What was Jose's take-home pay this pay period?
What was Jose's take-home pay this pay period?
1
How much has Jose paid in Social Security Tax since the beginning of the year?
How much has Jose paid in Social Security Tax since the beginning of the year?
1
How much Medicare tax has been deducted from his current pay?
How much Medicare tax has been deducted from his current pay?
1
What is the total amount of Jose’s deductions for this paycheck?
What is the total amount of Jose’s deductions for this paycheck?
1
Lily receives this W-2 form in January. She will use this W-2 form to assist her with...
Lily receives this W-2 form in January. She will use this W-2 form to assist her with...
1
What were Lily’s gross wages for this period?
What were Lily’s gross wages for this period?
1
Based on the W-2 form provided, what was the largest withholding?
Based on the W-2 form provided, what was the largest withholding?
1
What was the total amount deducted from Lily’s pay for Federal, State, and Local income tax?
What was the total amount deducted from Lily’s pay for Federal, State, and Local income tax?
1
All of the following employee information is included on a W-2 form EXCEPT...
All of the following employee information is included on a W-2 form EXCEPT...
1
As Lily files her taxes, she learns that her federal total tax due ends up being $244. According to her Federal income tax withheld, how much of a tax refund can she expect back?
As Lily files her taxes, she learns that her federal total tax due ends up being $244. According to her Federal income tax withheld, how much of a tax refund can she expect back?
1
Why should you accurately complete a W-4 form any time you start a new job or change your tax status?
Why should you accurately complete a W-4 form any time you start a new job or change your tax status?
1
Which of the following people might want to claim EXEMPT on their W-4 form?
Which of the following people might want to claim EXEMPT on their W-4 form?
1
The Federal government spends the most amount of tax money on...
The Federal government spends the most amount of tax money on...
1
All of the following are factors that impact the amount someone may pay in taxes EXCEPT...
All of the following are factors that impact the amount someone may pay in taxes EXCEPT...
1
Which of the following is the largest source of income for the Federal government?
Which of the following is the largest source of income for the Federal government?
1
Which person should expect to receive a W-2 form from their employer by January 31st, 2025?
Which person should expect to receive a W-2 form from their employer by January 31st, 2025?
1
All of the following information should appear on your W-2 form EXCEPT...
All of the following information should appear on your W-2 form EXCEPT...
1
Who is legally required to file a tax return? (Note: All of the following people can be claimed as a dependent.)
Who is legally required to file a tax return? (Note: All of the following people can be claimed as a dependent.)
1
When people refer to "Tax Day" they mean...
When people refer to "Tax Day" they mean...
1
Which statement about filing a tax return is FALSE?
Which statement about filing a tax return is FALSE?
1
A dependent is someone who...
A dependent is someone who...
1
When you sit down to file your 1040 form, which document(s) should you have in front of you?
When you sit down to file your 1040 form, which document(s) should you have in front of you?
1
Which of the following high schoolers would be considered a self-employed contractor?
Which of the following high schoolers would be considered a self-employed contractor?
1
What form do you use to file a tax return with the IRS?
What form do you use to file a tax return with the IRS?
1
Which is a type of EARNED income?
Which is a type of EARNED income?
4
Tim worked part-time last year from October through December. It’s now February and he’s preparing to file his taxes. Explain what he needs to do -- and when -- in order to file his taxes. Your answer should be in full sentences.
Tim worked part-time last year from October through December. It’s now February and he’s preparing to file his taxes. Explain what he needs to do -- and when -- in order to file his taxes. Your answer should be in full sentences.