forms
what is a W-2 form
is the form your employer gives you that tells your gross pay and money taken from taxes
What is a Refund
Is the money you get back from the government when filing taxes.
What are the 3 different options for filing your taxes?
1. With a professional
2. On paper
3. On a software
Why do you have to file your taxes?
To make sure you have payed the proper amount to the IRS, and potentially get some money back.
What is a 1099-INT
is a tax form issued by interest-paying entities, such as banks, investment firms, and other financial institutions, to taxpayers who receive interest income of $10 or more.
What is Taxes
Is the money taken out of your income or added to goods and services to pay for the government.
What are the 5 different filing statuses?
single, married filing jointly, married filing separately, head of household, and qualifying widow(er) with dependent child.
Should i file my taxes on paper?
no.
What is a 1040?
The form calculates the total taxable income of the taxpayer and determines how much is to be paid or refunded by the government.
what are Dependants?
are people who have all there needs taken care of by someone else
What are the 4 things you need when filing your taxes.
Social security, Age, Name, tax form.
Whats better Red bull or bang? (for completing taxes)
Bang.
what is a Schedule C
is just a 1040
What is Gross income?
the total money you made.
If you missed your taxes last year can you file this years taxes?
YES
What types of income may be reported on a 1040EZ tax form?
Wages, salaries, tips, unemployment compensation, etc.
1040A
allows you to claim a limited number of tax credits such as for child and dependent care expenses, child tax credit, the credit for the elderly or disabled and education tax credits
What is Net pay?
the amount of money you actually receive.
What hour last night did we visit your moms house?
3
Why do turtles eat straws?
Because they look yummy