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1. The federal government collects taxes from people in order to…
Correct!
Wrong!
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![](https://centsaieducation.com/wp-content/uploads/2018/04/How-Much-Do-You-Know-About-Taxes-true-or-false-25-percent-flat-tax-iStock-692021788-e1518546219958.jpg)
2. True or False: A flat tax of 25 percent is assessed to all forms of income made through a job.
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Wrong!
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![](https://centsaieducation.com/wp-content/uploads/2018/04/How-Much-Do-You-Know-About-Taxes-job-and-clothing-store-iStock-467885878-e1518546395424.jpg)
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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![](https://centsaieducation.com/wp-content/uploads/2018/04/How-Much-Do-You-Know-About-Taxes-taxable-income-iStock-485706868-e1518547852636.jpg)
4. A form of taxable income is…
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Wrong!
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![](https://centsaieducation.com/wp-content/uploads/2018/04/How-Much-Do-You-Know-About-Taxes-non-taxable-income-iStock-637926294-e1518547912640.jpg)
5. A form of non-taxable income is…
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![](https://centsaieducation.com/wp-content/uploads/2018/04/How-Much-Do-You-Know-About-Taxes-gross-income-iStock-641463754-e1518548028143.jpg)
6. What is gross income?
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![](https://centsaieducation.com/wp-content/uploads/2018/04/How-Much-Do-You-Know-About-Taxes-sales-tax-on-TV-iStock-590615586-e1518548364269.jpg)
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?
Correct!
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![](https://centsaieducation.com/wp-content/uploads/2018/04/How-Much-Do-You-Know-About-Taxes-start-a-new-job-iStock-693683702-e1518549471254.jpg)
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?
Correct!
Wrong!
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