What is Income taxes, Capital gains taxes, Income based taxes, non-income based taxes
200
What are the two types of tax deductions?
What is Standard and Itemized
200
All income, unless specifically excluded or deferred
What is Gross Income
200
What is the name of PJ's business?
What is East West Consulting
300
True or False. Hiring a tax professional to help you receive tax deductions is illegal and unethical.
What is False
300
Define FICA
What is Federal Insurance Contributions Act. A mandatory insurance program administered by the federal government that provides support in the event of death, disability, health problems, or retirement.
300
In order to maximize your tax deductions, you can use your home as a "tax ____"
What is Tax Shelter
300
Example of refundable credit
What is Reductions for earned income, estimated income tax payments, taxes witheld on wages
300
Where did PJ get his Ph.D and MBA?
What is Yonsei University in South Korea
400
This Article of Faith discusses keeping the law. (Which number is it?)
What is 12th Article of Faith
400
You are only responsible for half of the tax unless you're ______. Then you must pay 15.3%
What is Self-employed
400
Define long term capital gain
What is an investment asset you hold for more than a year before selling.
400
Name two examples of tax credits for students
What is Earned income tax credit, American Opportunity Tax Credit, Lifetime Learning Credit, Tuition and Fees deduction
400
What year did PJ Rogers graduate from BYU-Hawaii?
What is 1994
500
He said, "There seem to be those among us who are as wolves among the flock, trying to lead some who are weak and unwary... who are taking the law into their own hands by refusing to pay their income tax"
What is Harold B. Lee
500
You pay "Sin taxes" when...
What is when goods are purchased.
500
What is a Coverdell ESA?
What is a savings account that is set up to pay the qualified education expenses of a designated beneficiary.
500
You may claim an education tax deduction instead of a college tuition tax credit, up to _________ off your income