Taxes

Question 1

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?

Revolt · Accepted Answer

$5,000

Question 2

Which describes a type of tax that funds city programs?

Revolt · Accepted Answer

local income tax

Question 3

A federal payroll tax that supports retired workers is

Revolt · Accepted Answer

social security tax.

Question 4

The document shows a personal allowances worksheet.

Revolt · Accepted Answer

affect when to pay taxes.

Question 5

The chart shows taxable income.

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Income is what a person earns, while taxable income reflects deductions subtracted for relevant expenses.

Question 6

Property taxes are based on

Revolt · Accepted Answer

how much a property is worth.

Question 7

If a new shirt costs $34.99 and the sales tax is $2.10, the sales tax rate is

Revolt · Accepted Answer

6 percent.

Question 8

Social security and medicare are

Revolt · Accepted Answer

payroll taxes.

Question 9

If Massachusetts has a sales tax of 6 percent and New Hampshire has no sales tax, how much money can be saved by buying a $1,000 television in New Hampshire?

Revolt · Accepted Answer

$60

Question 10

Sales tax is calculated

Revolt · Accepted Answer

using a percentage of the price of an item.

Taxes Answers

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