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W!SE Taxes Flashcards | StudBud

Explore/W!SE Taxes

W!SE Taxes

6 terms·StudBud Administration

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Questions 6

Answers

1
What's the relationship between education level and potential earning power
Education has no effect
Higher education decreases earning potential
Higher education only affects people over forty
A professional degree could earn 4x as much as no diploma
2
Estate tax is a
tax on money withdrawn from a retirement account
tax on the value of a person's property at the time of death
Tax on capital gains from selling a house
none of the above
3
When goods and services are exchanged for other goods and services, without money
money
credit
barter
credit
4
What's true about financially literate people?
They have high debt and low savings
They achieve all of their financial goals
They understand the basics of economics
They almost always choose stocks and bonds that appreciate
5
The main sources of income for people from 20-35 who aren't living on pension are
Rents
Profits from business
Dividends and interest
Salaries, wages, and tips
6
Tax-exempt income is.
None of the above
Income that is not subject to tax
Income that will be taxed at a later date
Income that you invest