Save
Upgrade to remove ads
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Financial Literacy

QuestionAnswer
Name five different taxes that you may have to pay? Sales Tax, medicare, income tax, excise tax, property tax.
What does the federal government spend the most tax dollars on? Social Services
What government agency collects taxes? What's its full name? IRS / International Revenue Service
What Amendment created taxes on your earnings? 16th amendment
How much do you have to make before you have to pay federal income taxes? $15,750
What form do you have to fill out with your employer to begin having taxes taken out of your paycheck? W4
What type of taxes increase when your salary and wages increase? Progressive tax
What is the highest percentage that a person has to pay on their earnings? 37%
What is considered a regressive tax? sales tax, excise taxes, property taxes, social security, medicare taxes, inheritance tax.
What two taxes are used to support elderly people? Medicare taxes, Social Security
What percentage do you pay on the total purchase of items in Pittsburgh? 7%
What type of tax do you pay on gasoline? excise tax
What is the amount that you give someone as a gift that is not taxed by the federal government? $19,000
What are two tax programs that the federal government has to pay for by law? Medicare and Social Security
What is government spending that is dispersed to different programs and can change from year to year? Discretionary Spending
What is the deadline for filing taxes every year? April 15th
What tax form do you file with the federal government? 1040
What is the total of credits and deductions you need in order to reduce your taxes? Single: $15,750 Married: $31,500
Name two things that you can get a tax credit for to lower your taxes? Charitable expenses, business, student loan, mortgage.
What do you have to do on your tax form to claim credits or deductions? Schedule a
Created by: Last Weeks
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards