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taxes mid unit Flashcards | StudBud
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taxes mid unit
taxes mid unit
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Answers
1
Who makes money off the Lottery?
The Middle Class
Large Corporations
State Governments
Poor People
2
Which Amendment gave us the Federal Income Tax?
12th
16th
21st
3rd
3
Which of these are common tax deductions? SELECT ALL THAT APPLY!
Being really old
Having a pool
Student Loan Interest
Donations to Charity
4
Who partnered with the Association of Retired People (AARP) to provide a Digital Skills Program for older workers?
Tik Tok
Apple (AAPL)
Google (GOOGL)
Tesla (TSLA)
5
Most working teenagers will be able to take the Standard Deduction on their taxes.
False
True
6
What company plans to release a new line of "Baya Energy" drinks in March?
PepsiCo (PEP)
Bimbo (BIMBO)
Dunkin Donuts (DNKN)
Starbucks (SBUX)
7
Who are most likely to get AUDITED by the IRS? SELECT BOTH CORRECT ANSWERS
Full Time Salary Employees
Rich folks making MILLIONS
Folks with NO TAXABLE INCOME
Full Commission Sales Associates
8
What is the Standard Federal Income Tax form called?
1040
Long Form
180
W-4
9
Who fills out your W-2?
The IRS
A Tax Specialist
Your Employer
You do
10
Which credit bureau plans to allow customers to create their own credit reports?
Experian
TransExperiFax
Equifax
TransUnion
11
Your Marginal Tax Rate is the % you pay on all your income.
True
False
12
Which company hired RTFKT to create NFTs of sneakers?
Under Armour (AA)
Adidas (ADDYY)
Puma (PUMSY)
Nike (NKE)
13
Why doesn't the IRS have its own Free Online Tax Filing service?
The IRS doesn't have wifi
Its really hard to do
Tax Prep Companies pay off politicians not to
It costs too much to do it
14
Which IS NOT a part of McDonald's (MCD) new "Hacked" menu?
Hash Brown McMuffin
Fish Fry Melt
Crunchy Double
Land, Air, & Sea
15
Which is a VOLUNTARY TAX poor folks line up to pay?
Excise Taxes
Federal Income Tax
The Lottery
Welfare
16
Which Supreme Court Justice announced his retirement this week?
Clarence Thomas
Stephen G. Breyer
Brett M. Kavanaugh
Neil M. Gorsuch
17
The banks win in the Chinese censored release of this classic film.
Goonies
Rocky Horror Picture Show
Boondock Saints
Fight Club
18
Which insanely rich dude is launching his own online pharmacy for generic drugs?
Elon Musk
Mark Cuban
Bill Gates
Warren Buffett
19
Changes to this test will make the exam shorter, simpler, and digital.
ASVAB
CERT
ACT
SAT
20
Which FORM tells your employer how much to tax your paycheck?
W-2
1040
1099
W-4
21
Which bank is awarding $1 Billion in stock to its employees?
US Bank (USB)
Wells Fargo (WFC)
JPMorgan Chase (JPM)
Bank of America (BAC)
22
Which of these reduces the amount of taxable income?
Credits
Exemptions
Audits
Deductions
