1. The federal government collects taxes from people in order to…
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2. True or False: A flat tax of 25 percent is assessed to all forms of income made through a job.
Correct!
Wrong!
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3. If you get a job at your favorite clothing store in the mall, FICA taxes are deducted from your paycheck to fund…
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Wrong!
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4. A form of taxable income is…
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5. A form of non-taxable income is…
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6. What is gross income?
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7. If the sales tax rate in your state of residence is 6 percent, how much would the sales tax be on a phone that costs $1,000?
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8. When you start a new job, employers have you submit which of the following forms to determine the correct amount of federal income tax to withhold from your paycheck?
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Wrong!
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