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Chapter 10 Dave Ramsey Taxes

Quiz by Juli

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66 questions
Show answers
  • Q1
    Withholdings and deductions are . . .
    B. Expenses that are taken out of your paycheck
    D. Money that the government gives back to you
    A. Examples of deficit spending
    C. Categories of a good budget
    30s
  • Q2
    2. The tax on the purchase of goods or services is called ________________
    C. Income tax
    B. Purchase tax
    A. Consumption tax
    D. Goods and services tax
    30s
  • Q3
    3. The money you earn hourly for your time and effort at work is called your .
    D. Income tax
    B. Salary
    C. Minimum wage
    A. Wages
    30s
  • Q4
    4. What does the Form W-4 estimate?
    A. How much tax you'll owe based on your personal situation
    D. How many tax returns you need to submit.
    C. How much money you'll spend in that fiscal year.
    B. How much income you should be making.
    30s
  • Q5
    5. Every American who earns an income must file a each year.
    C. Tax extension
    D. Federal tax return
    A. Tax deduction
    B. Paycheck
    30s
  • Q6
    Each year, taxpayers submit a(n) __________to the IRS with the goal of getting as close to zero as possible.
    Paycheck
    Federal tax return
    Tax deduction
    Tax extension
    30s
  • Q7
    Due to the 2018 tax reforms, most tax filers can just take the __________ when filing their taxes.
    Users enter free text
    Type an Answer
    30s
  • Q8
    __________ is money you make from working at your job.
    Users enter free text
    Type an Answer
    30s
  • Q9
    The 12-month period used for reporting financial activity is known as a(n) __________
    Users enter free text
    Type an Answer
    30s
  • Q10
    An example of a(n) __________ is the taxes you pay on the fuel you purchase for your car at a gas station.
    Users enter free text
    Type an Answer
    30s
  • Q11
    If a long-lost relative or friend were to leave you a lot of money, you might have to pay a(n) __________
    Users enter free text
    Type an Answer
    30s
  • Q12
    Planning to spend more money than you actually have coming in is called __________
    Users enter free text
    Type an Answer
    30s
  • Q13
    __________ is money you make from your investments.
    Users enter free text
    Type an Answer
    30s
  • Q14
    The IRS may conduct a(n) __________ of a person‘s tax return to check the accuracy of the figures.
    Users enter free text
    Type an Answer
    30s
  • Q15
    Which form is used to calculate how much income tax is withheld from your pay?
    Users enter free text
    Type an Answer
    30s

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