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Taxes Test Questions and Answers Rated A+
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Exam of 2 pages for the course taxes at taxes (Taxes Test)
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Taxes TestIf a new shirt costs $34.99 and the sales tax is $2.10, the sales tax rate is - answer6
percent
The chart shows taxable income.
Which explains a difference between income and taxable income? - answer Income is
what a person earns, while taxable income reflects deductions for various expenses.
What types of information does a W-2 form contain? Check all that apply. - answer how
much has been earned
how much has been withheld for taxes
The document shows a personal allowances worksheet.
The document asks about dependents because the number can - answer lower overall
taxes.
Which are types of income tax that people pay? Check all that apply. - answer federal
local
state
In addition to federal income tax, many people also pay - answer state income tax.
Sales tax is calculated - answer using a percentage of the price of an item.
Most state and local income taxes are either ... - answer progressive or flat
Which describes a type of tax that funds city programs? - answer local income tax
Sales tax is calculated by multiplying the price of an item by the .... - answer tax rate
The document shows a 1040 form.
The 1040 form is used to collect - answer federal tax
Property taxes are based on - answer how much a property is worth
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? - answer$5,000
The image shows a W-2 form.
Which best describes the purpose of this document? - answer It shows how much a
person earned, and how much was withheld in taxes.
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