Ch 6 Test Review (4/2/2025)

Last updated 11 months ago

47 questions

Ch 6 Test Review (4/2/2025)

Last updated 11 months ago

47 questions

Determine federal taxes using goldenrod paper(tax brackets). Lisa is single :)

Determine social security tax if the percentage is 6.2.

Line 1a

Ben and Jill are married and file jointly. They have a combined income of $98,900. They have 1099 forms that report $5,900 in bank interest(counted as income). They were able to claim $32,550 in deductions as well. 

What is their adjusted gross income?

What is their Taxable income?

What is their tax(use tax tables)?

Beth is verifying the accuracy of her paycheck. She earns $20.50 an hour and works 40 hours each week. Her biweekly deductions are Social Security 6.2%, Medicare 1.45%, federal withholding tax $150.25, state withholding tax $89.50, and health insurance $57.47. What is her net pay if she is paid biweekly?

Beth is verifying the accuracy of her paycheck. She earns $20.50 an hour and works 40 hours each week. Her biweekly deductions are Social Security 6.2%, Medicare 1.45%, federal withholding tax $150.25, state withholding tax $89.50, and health insurance $57.47. What percentage of her pay goes to deductions? (Round to the nearest tenth of a percent)

Using the goldenrod paper:
Krysten is the head of her household and has a taxable income of $357,670. How much does she owe in taxes?

Using your tax tables (not goldenrod paper):
Determine the taxes for someone who is married, filing separately, and making $54,950.

Using your tax tables (not goldenrod paper):
Determine the taxes for someone who is single and earns $48,362.

Using your tax tables: Between what interval does someone earn if they are head of household and pay $7,434 in taxes? Separate the values by a dash.

A taxpayer's annual Medicare tax is $1,054. What is the taxpayer's gross annual salary? Medicare tax is 1.45%

Head of household Holden made $115,500 last year for his wages and had form 1099 that stated he made $3,100 of interest from his bank account(s). Howard made a pre-tax contribution to his retirement account (deductible)paid $21,000, $3,000 in student loan interest, and $2,000 in medical bills. The standard deduction for this filer is $19,400. Tax credits given to Holden were a $4,000 child tax credit and $300 for a charity donation.

What was Holden's adjusted gross income?

What is Holden's taxable income?

What were Holden's taxes owed(use the orange paper)?

Head of household Hector made $174,300 last year for his wages and had form 1099 that stated he made $1,100 of interest from his bank account(s). Hector made a pre-tax contribution to his retirement account (deductible)paid $11,000, $3,000 in student loan interest, and $5,000 in medical bills. The standard deduction for this filer is $19,400. Tax credits given to Hector were a $5,000 child tax credit and $300 for a church donation.

What was Hector's adjusted gross income?

What is Hector's taxable income?

What were Hector's taxes (use the goldenrod paper)?

Single Steve made $215,500 last year for his wages and had form 1099 that stated he made $4,600 of interest from his bank account(s). Steve made a pre-tax contribution to his retirement account (deductible) and paid $15,000, $3,000 in student loan interest, and $1,000 in medical bills. The standard deduction for this filer is $13,850. Tax credits given to Steve were $250 for a charity donation.

Ch 6 Test Review (4/2/2025)

Ch 6 Test Review (4/2/2025)

Determine federal taxes using goldenrod paper(tax brackets). Lisa is single :)

Determine social security tax if the percentage is 6.2.

Line 1a

What is their adjusted gross income?

What is their Taxable income?

What is their tax(use tax tables)?

Using the goldenrod paper:Krysten is the head of her household and has a taxable income of $357,670. How much does she owe in taxes?

Using your tax tables (not goldenrod paper): Determine the taxes for someone who is married, filing separately, and making $54,950.

Using your tax tables (not goldenrod paper): Determine the taxes for someone who is single and earns $48,362.

Using your tax tables: Between what interval does someone earn if they are head of household and pay $7,434 in taxes? Separate the values by a dash.

A taxpayer's annual Medicare tax is $1,054. What is the taxpayer's gross annual salary? Medicare tax is 1.45%

What was Holden's adjusted gross income?

What is Holden's taxable income?

What were Holden's taxes owed(use the orange paper)?

What was Hector's adjusted gross income?

What is Hector's taxable income?

What were Hector's taxes (use the goldenrod paper)?

What was Steve's adjusted gross income?

What is Steve's taxable income?

What was Steve's taxes (use the golden rod paper)?

Determine federal taxes using goldenrod paper(tax brackets). Lisa is single :)

Determine social security tax if the percentage is 6.2.

Determine medicare tax if the percentage is 1.45 (round to the penny)

How much federal, state and local taxes were paid?

Did Lisa contribute to a retirement plan?

How much did Lisa contribute to her retirement?

Line 1a

Line 1z

Line 9

Line 11

Line 12. Make sure to use the standard deduction, $14,600

Line 14

Line 15

Line 16 (use tax tables, not pink paper)

Line 18

Line 22

Line 24

Line 25a

Line 25d

Line 33

Line 34

Line 37

What is their adjusted gross income?

What is their Taxable income?

What is their tax(use tax tables)?

Using the goldenrod paper:Krysten is the head of her household and has a taxable income of $357,670. How much does she owe in taxes?

Using your tax tables (not goldenrod paper): Determine the taxes for someone who is married, filing separately, and making $54,950.

Using your tax tables (not goldenrod paper): Determine the taxes for someone who is single and earns $48,362.

Using your tax tables: Between what interval does someone earn if they are head of household and pay $7,434 in taxes? Separate the values by a dash.

A taxpayer's annual Medicare tax is $1,054. What is the taxpayer's gross annual salary? Medicare tax is 1.45%

What was Holden's adjusted gross income?

What deduction would you use?

What is Holden's taxable income?

What were Holden's taxes owed(use the orange paper)?

What were his adjusted taxes AFTER the tax credits?

What was Hector's adjusted gross income?

What deduction would you use?

What is Hector's taxable income?

What were Hector's taxes (use the goldenrod paper)?

What were his adjusted taxes AFTER the tax credits?

What was Steve's adjusted gross income?

What deduction would you use?

What is Steve's taxable income?

What was Steve's taxes (use the golden rod paper)?

What were his adjusted taxes AFTER the tax credits?

Determine medicare tax if the percentage is 1.45 (round to the penny)

How much federal, state and local taxes were paid?

Did Lisa contribute to a retirement plan?

How much did Lisa contribute to her retirement?

Line 1z

Line 9

Line 11

Line 12. Make sure to use the standard deduction, $14,600

Line 14

Line 15

Line 16 (use tax tables, not pink paper)

Line 18

Line 22

Using the goldenrod paper:
Krysten is the head of her household and has a taxable income of $357,670. How much does she owe in taxes?

Using your tax tables (not goldenrod paper):
Determine the taxes for someone who is married, filing separately, and making $54,950.

Using your tax tables (not goldenrod paper):
Determine the taxes for someone who is single and earns $48,362.

Using the goldenrod paper:
Krysten is the head of her household and has a taxable income of $357,670. How much does she owe in taxes?

Using your tax tables (not goldenrod paper):
Determine the taxes for someone who is married, filing separately, and making $54,950.

Using your tax tables (not goldenrod paper):
Determine the taxes for someone who is single and earns $48,362.