Taxes Answers
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The chart shows a sample paycheck stub.
A
added to employee pay.B
withheld from employee pay.C
refunded in employee pay.D
filed through employee pay.2
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A
progressive or flatB
regressive or flatC
progressive or regressive3
Sales tax is calculated
A
based on the number of items purchased.B
using a percentage of the price of an item.C
before a sale discount is applied.D
as a percentage based on federal law.4
The document shows a 1040 form.
A
state tax.B
local tax.C
federal tax.D
sales tax.5
The chart shows taxable income.
A
Income is what a person earns, while taxable income reflects deductions subtracted for relevant expenses.B
Income is what a person earns, while taxable income reflects what is left after paying federal taxes.C
Income is what a person earns, while taxable income reflects what is left after paying local and state taxes.D
Income is what a person earns, while taxable income reflects what is received from the IRS in a tax refund.6
What types of information does a W-2 form contain? Check all that apply.
A
how much has been earnedB
how much sales tax has been paidC
how much has been withheld for taxesD
how much property tax has been paidE
how much additional tax is dueF
how much withheld tax will be refunded7
If a home is valued at $250,000 and the property tax rate is 2 percent, how much will the owners pay in property taxes?
A
$50B
$500C
$5,000D
$50,0008
If Massachusetts has a sales tax of 6 percent and New Hampshire has no sales tax, how much money can be saved by buying a $1,000 television in New Hampshire?
A
$6B
$16C
$60D
$6009
Which are types of income tax that people pay? Check all that apply.
A
federalB
localC
progressiveD
stateE
salesF
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