Careers, Salaries, and Lifetime Income Answers

If an individual overpays taxes throughout the year, then after filing taxes he or she will receive

Revenue from property taxes is used to fund

Jennie is 50 years old. After experiencing a major health issue, she had to quit her job and has been unable to return to work for more than a year. She still sees a doctor regularly for ongoing care.Which benefit would Jennie use for health assistance?

Davis’s net paycheck is $2,920.50.Type of TaxAmountFederal$945.00State$225.00Medicare$65.25Social Security$344.25

Why does an excise tax on gasoline exist? Check all that apply.

Two years ago, Elena purchased a condo. She has made some improvements on it, which increased the value of the property. Property tax in her community is 1.25%.This table shows the value of Elena’s condo over the last three years.Value of property at purchase Value of property last yearValue of property today$187,200$188,550$190,000

Van and her brother Trung both own homes valued at $175,000. Both pay property taxes at 1.25% and pay annual taxes of $2,187.50. They live in different neighborhoods. Van’s property value is expected to increase by 5% next year.Trung’s property value is expected to increase by 3%.How will these changes affect their property taxes? Check all that apply.Van’s property tax will increase.Trung’s property tax will be less than Van’s.Trung’s property tax will decrease compared to Van’s.Van’s property tax will be less than Trung’s. Trung’s property tax will increase.

Which statements about payroll taxes are true? Check all that apply.Education and infrastructure receive a portion of the funds from payroll taxes.Everyone pays the same percentage, regardless of income. Payroll taxes are progressive based on income. Payroll taxes support Social Security and Medicare. Employers pay a set percentage of payroll taxes.

At tax season, an individual who has withheld too little in taxes can expect

Which statements about sales taxes are true? Check all that apply. They are collected by state and local governmentsThe tax rate changes from state to state and city to city.Failure to pay sales tax can result in the government seizing the property. The more something costs, the greater the dollar amount paid in sales tax. Sales taxes are taxes on purchased goods.