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Taxes Quizlet 100% Accurate
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Exam of 4 pages for the course taxes at taxes (Taxes Quizlet)
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Taxes QuizletWhich of the following are the three largest categories of federal government spending?
- answer Health, Military, and Interest on Debt
What does the term "withholding" mean in reference to your paycheck? - answer It is
how much is being taken out of your paycheck in taxes.
When do you start filing your taxes? - answer When you make more than the minimum
income requirement ($12,400 this year.)
Why is it important to be extremely careful when completing your 1040 form? - answer
The 1040 form determines whether you owe additional taxes or are entitled to receive a
refund from the government
Which of the statements below is TRUE about filing your taxes, assuming your only
income comes from the salary you earn at BigTech Company? - answer You must file
your tax return by April 15th of the following year or request an extension by that date
You are starting your first job and you are asked to complete some paperwork on your
first day. Which form will determine how much money is withheld from your paycheck
for federal and state income taxes? - answerW-4
Which of the following paycheck withholdings puts money into a retirement investment
fund that you will manage? - answer401(k) contribution
When determining whether you NEED to file a federal tax return, each of these
questions matters EXCEPT... - answer How much income did you earn this year?
What type of income did you earn this year?
What state do you live in?
Are you claimed as a dependent on anyone else's tax return?
Juanita has a part-time job that pays $12/hour and works about 50 hours every month.
Her withholdings are Social Security (6.2%), Medicare (1.45%) and federal income tax
(10%). What is her approximate net pay? - answer$500
What form am I? I am received when you start a job. You use me to prove that you are
eligible to work in the U.S., and you must provide forms of identification when submitting
me. - answerI-9
What is true about this W-4 - answer Know how to read a W-4 and what each part
means.
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