Politics And GovernmentLawTaxes example #83722
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Taxes example #83722

Nina Adams avatar Nina Adams
16 March 2024
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13 test answers

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Which best describes the purpose of this document?
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It shows how much a person earned, and how much was withheld in taxes.
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Sales tax is calculated by multiplying the price of an item by the .
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tax rate
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Social security and medicare are
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payroll taxes.
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Most state and local income taxes are either .
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progressive or flat
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The 1040 form is used to collect
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federal tax
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Sales tax is calculated
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using a percentage of the price of an item
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Which explains a difference between income and taxable income?
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Income is what a person earns, while taxable income reflects deductions subtracted for relevant expenses.
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The document asks about dependents because the number can
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lower overall taxes.
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Which best summarizes the purpose of a W-4 form?
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It helps determine the amount of taxes withheld from an individual's paycheck.
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Which describes a type of tax that funds city programs?
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local income tax
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If a new shirt costs $34.99 and the sales tax is $2.10, the sales tax rate is
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6 percent.
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The chart shows that federal and state taxes are
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withheld from employee pay.
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A federal payroll tax that supports retired workers is
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social security tax.