Taking On Taxes Pre Test

Why are FICA Taxes withheld?

What percentage is withheld from our paychecks to cover Social Security and Medicare taxes in 2022?

The form used to determine your tax withholding amount is called which of the following?

Taxes are not paid to which of the following entities?

Taxes may also be collected from pensions, gambling winnings, bonuses, and commissions.

What is a progressive tax system? Check all that apply.

Refer to the tax bracket table in the reading. For a 35 year old individual filing single, what percentage would they pay in taxes for income between $10,275 and $41,775?

In order to determine tax rates in your state, you should visit which of the following state offices?

You have a taxable income of $30,000. You qualify for the lifetime learner tax credit in the amount of $2000.00 and the energy efficiency tax credit of $200. What is your taxable income if you are a 35 year old individual filing single? Do not use any deductions or the standard deduction for this question.

You have a taxable income of $30,000. You qualify for the lifetime learner tax credit in the amount of $2000.00 and the energy efficiency tax credit of $200. You take the standard deduction of $12,950. What is your taxable income if you are a 35 year old individual filing single. ?

You’ll receive a tax refund if

You can get in trouble for not filing a tax return if

When should you file a tax return?

What is the name of the form your employer gives you showing your money earned?

For money earned as a contractor, unemployment, or through investments, which forms will you receive?

How long, on average, does it take to complete and file a tax return

How much, on average, does it cost to pay a professional to do your taxes?

What is a disadvantage of using paper forms to file your tax return?

What is an advantage of using online tax preparation software?

What type of tax preparer works at H and R Block?

All Certified Public Accountants are tax experts

Which tax professionals may be appropriate for complex tax situations? Check all that apply.

When might you want to hire a noncredentialled tax preparer?

Taking On Taxes Pre Test

Why are FICA Taxes withheld?

What percentage is withheld from our paychecks to cover Social Security and Medicare taxes in 2022?

The form used to determine your tax withholding amount is called which of the following?

Taxes are not paid to which of the following entities?

Taxes may also be collected from pensions, gambling winnings, bonuses, and commissions.

What is a progressive tax system? Check all that apply.

Refer to the tax bracket table in the reading. For a 35 year old individual filing single, what percentage would they pay in taxes for income between $10,275 and $41,775?

In order to determine tax rates in your state, you should visit which of the following state offices?

You have a taxable income of $30,000. You qualify for the lifetime learner tax credit in the amount of $2000.00 and the energy efficiency tax credit of $200. You take the standard deduction of $12,950. What is your taxable income if you are a 35 year old individual filing single. ?

You’ll receive a tax refund if

You can get in trouble for not filing a tax return if

When should you file a tax return?

What is the name of the form your employer gives you showing your money earned?

For money earned as a contractor, unemployment, or through investments, which forms will you receive?

How long, on average, does it take to complete and file a tax return

How much, on average, does it cost to pay a professional to do your taxes?

What is an advantage of using online tax preparation software?

What type of tax preparer works at H and R Block?

All Certified Public Accountants are tax experts

Which tax professionals may be appropriate for complex tax situations? Check all that apply.

When might you want to hire a noncredentialled tax preparer?