Personal Finance Review Game Question Preview (ID: 29847)

a) specific experse such as a medical experse that you can deduct from gross pay

b) amount of money set by IRS thats not taxed

c) amount of taxes that are deducted

d) amount of money owed

a) amount of money set by IRS thats not taxed

b) amount of money that gets deducted

c) specific experse such as medical experse that you deduct from gross pay

d) amount of taxes owed

a) excluded

b) cut out

c) excused

d) exemption

a) amount of income thats used to calculate an individuals or companys income tax

b) only specific people get taxed on

c) taxes that have to do with anything that are indoors

d) to be exempt from paying taxes

a) employees net pay

b) the money employee gets to take home

c) individuals total gross income minus specific deductions

d) their annual salary

a) money that substitutes for wages or salary paid to recently unemployed workers under a program

b) to fire someone from their job

c) to hire someone for a new job

d) money thats given to the employees

a) amount a person makes

b) a record of an individuals paychecks

c) a pension plan

d) individuals use to file their annual income tax returns

a) an individual must fulfill certain requirements such as not owning a business and having a taxable income less than $100000

b) owning a business

c) make less than $100000

d) itemizing deductions

a) a form that is very easy to fill out

b) a tax form that offers an easier and faster way to file taxes

c) reports how much money employee receives form working

d) an immigration form

a) tax on wages, salaries and self employed earning

b) taxes that come inside

c) the highest amount of taxes

d) taxes that are only paid by rich people

a) allowing someone to do something

b) another word for salary

c) exemptions on the tax form employers use to determine how much of an employees pay to subtract from its paycheck to remit

d) to withhold someone from doing something

a) a form to own a car

b) a form that an employer must send to an employee and IRS

c) a form for taxes

d) a form thats filled out by the employee

a) a form completed by an employee to indicate the tax situation to the employer

b) a form to own a car

c) a form that an employer must send to an employee and IRS

d) a form for immigration

a) a deduction from adjusted gross income for the taxpayer, spouse and qualified dependents

b) required to pay

c) amount of taxes that are owed

d) a form an employee fills out to be exempted from paying taxes

a) the difference between taxes paid and taxes owed

b) a refund on your taxes

c) the amount of taxes given back for only specific people

d) amount of taxes owed

a) amount of taxes owed

b) the difference between taxes paid and taxes owed

c) amount of money that can be subtracted directly from taxes you owe

d) taxes for using a credit card

a) amount of taxes owed

b) tax deductions

c) difference between taxes paid and taxed owed

d) a tax thats liable

a) only non-business people are able to get a tax extenstion

b) an exemption made to both individual taxpayers and businesses that are unable to file tax

c) a type of tax deduction

d) a great way to save money

a) examination of your tax return by IRS to verify that your income and deductions are accurate

b) another name for tax deductions

c) taxes on audio instruments

d) amount of taxes owed

a) a tax that only Illinois pays

b) a tax deduction

c) federal tax collected on the value of a persons property at the time of his or her death

d) a tax that the state pays for