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Stack #2634386
| Question | Answer |
|---|---|
| which of the following is a tax that must be considered when planning an estate ? | inheritance tax, death tax, estate tax |
| when does your employer have to provide your end of the year summary of taxable income by ? | January 31st |
| which of the following is an example of a progressive tax ? | income tax |
| which of the following is not an example of a proportional tax ? | property tax |
| which of the following is an example of a regressive tax ? | sales tax |
| why does sales tax vary from one state or locality to another ? | there is a base sales tax and localities add additional sales tax |
| what is the goal of a sales tax holiday ? | to make the sales tax less regressive |
| which is not an example of a commonly used regressive tax ? | the federal income tax |
| because of their effect on lower-income groups, true regressive taxes are not used as ____ today. | income taxes |
| a regressive tax takes the largest percentage of income from which group ? | low income |
| regressive taxes cause lower-income groups to pay _____ of their income than wealthier groups pay. | a greater proportion |
| the social security tax rate is ? | 6.2 % |
| employers use which form to compute the amount of federal income tax to withhold ? | form w-4 |
| the wage and tax statement is also known as | form w-2 |
| what type of tax do you avoid if you drink only nonalcoholic beverages ? | sin tax |
| what type of tax do you avoid if you put off buying a new sports car until next year ? | luxury tax |
| what type of tax do you avoid if you join a car pool ? | gasoline excise tax |
| which of the following is not an example of a tax deduction ? | FICA taxes |
| what is a tax credit ? | a reduction of the tax itself |
| what document is issued by employers and is an end of year summary of ones gross taxable income and withholdings ? | W-2 |
| most states do not tax | food |
| a progressive tax takes the largest percentage of income from which group ? | high- income |
| which is not an example of a commonly used progressive tax ? | a states drivers license fee |
| why do federal income tax rates not go above 40 percent ? | such high rates could hurt our economy, lower-income people would lose jobs as businesses closed, some people would find it hard to stay in business |
| which is not an example of a commonly used proportional tax ? | a state income tax |
| it is hard to get people to agree on what is a fair tax because | people have different values and priorities |
Created by:
fieldm