Taxes Answers

Read the scenario.Sarah has always been passionate about environmental protection. She decides to volunteer her time and donate to a local organization dedicated to cleaning up parks and promoting recycling in her community. She feels a sense of fulfillment knowing that her efforts are contributing to a cleaner and healthier environment for future generations.What is the primary motivation behind Sarah's volunteer work and donations?

A

to spend more time outdoors in local parks

B

to gain recognition and status in her community

C

to earn tax credits for her charitable contributions

D

to fulfill a personal sense of environmental responsibility

22

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In addition to federal income tax, many people also pay

A

corporate tax.

B

state income tax.

C

local medicare tax.

D

local social security tax.

23

Which are types of income tax that people pay? Check all that apply.

A

federal

B

local

C

progressive

D

state

E

sales

F

flat

24

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.

25

[BLANK]

A

withholding amount

B

income tax

C

tax rate

26

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.

27

Read the scenario.Sarah has always been passionate about environmental protection. She decides to volunteer her time and donate to a local organization dedicated to cleaning up parks and promoting recycling in her community. She feels a sense of fulfillment knowing that her efforts are contributing to a cleaner and healthier environment for future generations.What is the primary motivation behind Sarah's volunteer work and donations?

A

to spend more time outdoors in local parks

B

to gain recognition and status in her community

C

to earn tax credits for her charitable contributions

D

to fulfill a personal sense of environmental responsibility

28

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.

29

Social security and medicare are

A

progressive taxes.

B

payroll taxes.

C

local taxes.

D

corporate taxes.

30

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.

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