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- 1. Multiple ChoiceWhat are Taxes?A Sum of money that the Federal government pays its citizens for good behavior.A Sum of Money that the State Mandates its Businesses pay in order to support the cleaning of their parking lot.A Sum of Money that the Federal Government charges its citizens to clean up their messes.A sum of money that the State or Federal Government mandates its citizens pay in order to support the government itself and all of its services.
- 2. Multiple ChoiceWhat are three ways you have benefited from taxes today?Zoo's, Arena's, and WalmartHighway Signs, Highways, and bike reflectorsPolice Officers, Teachers, and the InternetSchools, Libraries, and Clean Communities
- 3. Multiple ChoiceWhat is Payroll Tax?Tax on Earned IncomeTax on Unearned IncomeTax on Earned and Unearned IncomeTaxes on the Wages you earn from your Employer
- 4. Multiple ChoiceWhat is Federal Income Tax?Funds the Disney Corporation with money it needs to operate.Money that supports the Executive, Legislative, and Prejudicial branch of the government.A tax that supports the air traffic navy platoon system, the national board of realtors as well as the web of excessive disproportionate growth.A tax that supports the federal governmen all its systems, highway construction and the military.
- 5. Multiple Choice
Who primarily uses our tax money?
Your employer
The state government
The Federal government
Local Businesses
- 6. Multiple Choice
Our tax money is spent on all of the following EXCEPT:
Social Security
The Military
Private School Education
National Parks
- 7. Multiple Choice
The W-4 form lets...
the government know how much you paid in taxes last year
your employer know how much to withhold from your paycheck
the 3 major credit bureaus know how many dependents you have
you know how much you paid in taxes last year
- 8. Multiple Choice
What do you need to file your 1040 or 1040EZ form?
Your W-2
Your W-4
Your prior year's tax return
Social Security Number
- 9. Multiple Choice
Which is TRUE if you do not pay your taxes?
You owe twice as much the following year
You're more likely to be approved for low interest loans
You cannot go to jail (but you will be heavily fined)
Your credit score may be impacted
- 10. Multiple ChoiceThe total amount of earnings before any deductions are taken outGross PayNet PayAfter-tax IncomeYucky Pay
- 11. Multiple ChoiceThe amount of salary received after taxes and deductionsGross PayNet PayTotal EarningsBill
- 12. Multiple ChoiceWhich type of tax funds local schools?Income TaxSales TaxProperty TaxExcise Tax
- 13. Multiple ChoiceFederal taxes are the same in every stateTrueFalse
- 14. Multiple Choice
Taxes are paid by people to support themselves.
False
True
- 15. Multiple Choice
Property tax is based on the value of personal property, home, land and etc.
True
False
- 16. Multiple Choice
Payroll and _________ are taxes that are deducted from a person's paycheck.
Sales Tax
Income Tax
Property Tax
- 17. Multiple Choice
This tax is added to a purchase you make.
Sales Tax
Income Tax
- 18. Multiple Choice
These taxes come out of a person's paycheck and is meant to help people once they retire.
Sales Tax
Social Security Tax
- 19. Multiple Choice
Why do we need to pay taxes?
To collect money to run the government,
To collect money to buy car.
- 20. Multiple ChoiceIf you receive 25% off an item costing $22.00, how much money do you save?$ 5.50$ 4.25$6.00$7.35
- 21. Multiple ChoiceSales tax is __________ to the pricesubtractedaddedmultiplieddivided
- 22. Multiple ChoiceDiscount is ____________ from the price.addeddividedsubtractedMr. Ed is very old
- 23. Multiple ChoiceSally owns a gas station. What type of tax will she have to pay on the land that the gas station is on?Property TaxPayroll TaxIncome TaxSales tax
- 24. Multiple ChoiceJose Altuve for the Houston Astros makes $625,000 every year. He has to pay taxes on the money his annual earnings. Which type of tax is that?Property TaxIncome TaxPayroll taxSales tax
- 25. Multiple ChoiceJared bought a new boat. He had to pay which kind of tax on his new boat?Property TaxIncome TaxPayroll taxSales tax
- 26. Multiple ChoiceThis is a tax on retail itemsIncomePropertyPayrollSales
- 27. Multiple ChoiceTaxes are -Money given to you by the governmentFree money to youMoney you must pay to the governmentMoney in someone's piggy bank
- 28. Multiple Choice
A sum of money demanded by a government for support of itself and specified programs and services
Taxes
Fee
Tax Payer
Bill
- 29. Multiple Choice
What type of tax is applied when purchase goods or services?
Sales
Income
Property
Excise
- 30. Multiple Choice
Which of the following taxes helps support medicare and social security programs?
Income
Payroll
Sales
Excise
- Answer choicesTagsAnswer choicesTags