Taxes
You are starting your first job and you are asked to complete some paperwork on your first day. Which form will determine how much money is withheld from your paycheck for taxes?
W-4
How much does it cost to file the FAFSA?
Nothing, it's free!
What are the three most common types of pay-periods?
Weekly, Bi-Weekly, Monthly
A detailed proposal that describes a new business
Business Plan
How many siblings do I have?
One (:
What is the name of the tax form that requires you to provide identification and proves you are eligible to work in the U.S.?
I-9
How can the community college be considered a type of financial aid?
It reduces the amount of credits you'll have to pay for at a 4 year univeristy
Explain the difference between a resume and cover letter
Resume - showcases skills, experience, and achievements
Cover Letter - conveys interest in the job and ellaborates on skills listed in the resume that make a candidate good for a job
Name 3 characteristics of successful entrepreneurs
Persistent, Creative, Responsible, Inquisitive, Goal-Oriented, Independent, Confident, Risk Taker
What is my favorite movie?
Will also accept Velocipastor for the bit
What does the term "withholding" mean in reference to your paycheck?
How much is being taken out of your paycheck for things like taxes, employer sponsored health insurance, and retirement
Which way to pay for college is MOST likely to be based on someone’s financial need?
Grants (think Pell Grant = entirely need-based)
Give two examples of hard skills
Mirosoft Excel, Adobe, CPR, CNA, programming languages (ie. PYTHON)
Money needed to cover initial business costs
Start-up Capital
What is my favorite city?
Nashville
If a taxpayer fills out their W-4 in a way that does not withhold enough money to cover their tax obligation, what is the most likely outcome after they file their taxes?
They will owe a payment to the IRS
Explain the difference between a subsidized and unsubsidized loan
Subsidized loan: the government pays the interest on the loan while the borrower is in school
Unsubsidized loan: starts accruing interest immediately
How does a 401k work?
Your employer matches however much you put into it
3 Ways to legally protect your business
Trademark
Patent
Copyright
What sport did I play in high school?
Bonus 100 points: Who was my coach?
Softball
Doughhead
Define a "dependent" for tax purposes.
A child or adult that you support financially
Explain the SAI (formerly known as the EFC)
Student Aid Index - Calculation of how much a student's family can financially contribute to their education
Name 3 potential benefits to look for when you are job hunting
Health insurance, life insurance, dental/vision insurance, retirement plan (Roth IRA, pension, 401k), Child care
Brief one to two page description of the key points of each section of the business plan
Executive Summary
What was my first job? (Hint: It was at a restaurant)
Amalfi's (I got fired)