Taxes Answers

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1
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What are the benefits of donating to a charitable organization? Check all that apply.It earns the donor interest from the charity on the amount given.It gives the donor satisfaction, and it helps the charity’s cause.It grants a rebate for an amount equivalent to the donation.It can often be deducted from the donor’s taxable income.It exempts the donor from all federal taxes for the year.

A
It earns the donor interest from the charity on the amount given.
B
It gives the donor satisfaction, and it helps the charity’s cause.
C
It grants a rebate for an amount equivalent to the donation.
D
It can often be deducted from the donor’s taxable income.
E
It exempts the donor from all federal taxes for the year.
2
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What stance did you take in your argument? Check all that apply.

A
Taxes reduce individuals' net income
B
Sales taxes reduce many consumers' buying power
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Jamal and Diamond are calculating their taxes for the year. They both have no dependents, so their federal tax rates are the same.

Answers:
Selection 1:Diamond
Who would pay more in sales taxes when making purchases?:Diamond
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Jamal✔ DiamondThey pay the same.

A
Jamal
B
✔ Diamond
C
They pay the same.
27171

Who would pay more in state income taxes?

Answers:
Selection 1:Jamal
Both Jamal and Diamond decide to buy a new computer at a store near their homes. The computer costs $500. Who will end up paying more?:Diamond
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Jamal✔ DiamondThey pay the same.

A
Jamal
B
✔ Diamond
C
They pay the same.
27179

Washington, DC✔ Virginia Maryland

Answers:
To spend the least amount total, Amir should buy the computer in .:Virginia
Amir would pay the most sales tax in .:Maryland
Amir would pay $60 in sales taxes in .:Washington, DC
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Washington, DCVirginia✔ Maryland

A
Washington, DC
B
Virginia
C
✔ Maryland
27181

✔ Washington, DCVirginiaMaryland

A
✔ Washington, DC
B
Virginia
C
Maryland
27184

LaTonya was just hired as an engineer for an electric company. She will make a salary of $50,000 a year.

Answers:
was withheld specifically for the tax that is used to pay for a healthcare program.:$612.65
was withheld for the payroll tax that specifically supports retired and disabled citizens.:$2,567.45
If this individual made more money, the amount withheld for Social Security would .:increase
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✔ increase decrease stay the same

A
✔ increase
B
decrease
C
stay the same
38493

✔ $0$8,925 $50,000

A
✔ $0
B
$8,925
C
$50,000

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