Banking: How to Manage Your Money Answers
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If a new shirt costs $34.99 and the sales tax is $2.10, the sales tax rate is
A
2 percent.B
4 percent.C
6 percent.D
8 percent.2
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Property taxes are based on
A
where a property is located.B
who lives on a property.C
how much a property is worth.D
when a property was purchased.3
Which describes a type of tax that funds city programs?
A
progressive taxB
federal income taxC
local income taxD
medicare tax4
Which best summarizes the purpose of a W-4 form?
A
It helps determine the amount of taxes withheld from an individual’s paycheck.B
It helps determine when taxes are due and if money is owed to the IRS.C
It helps determine whether a person has dependents who must also pay taxes.D
It helps determine when a person needs to pay local income taxes.5
The image shows a W-2 form.
A
It shows how much a person paid in taxes, and how much more is due.B
It shows how much a person earned, and how much was withheld in taxes.C
It shows how much a person earned, and how much tax is to be refunded.D
It shows how much a person paid in taxes, and whether they have a spouse.6
The chart shows a sample paycheck stub.
A
added to employee pay.B
withheld from employee pay.C
refunded in employee pay.D
filed through employee pay.7
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?
A
$50B
$500C
$5,000D
$50,0009
A federal payroll tax that supports retired workers is
A
progressive tax.B
sales tax.C
corporate tax.D
social security tax.10
The document shows a personal allowances worksheet.
A
affect who pays taxes.B
increase overall taxes.C
lower overall taxes.D
affect when to pay taxes.Did you find these answers helpful?
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