Types of taxes
Tax on money earned at work
What are INCOME TAXES
A federal government program that collects taxes from employed citizens & then provides a limited retirement benefits for those that have paid into that program
What is SOCIAL SECURITY
Payroll withholding or Payroll Tax - The federal/U.S. Government collects taxes by withholding a percentage of an employees income for these three
What income tax/IRS, social security tax & medicare tax
The easiest federal income tax form to fill out & file
What is the 1040
The day your federal income tax are due
What is April 15th (usually)
Tax paid when one purchases certain items
What are SALES TAXES
What are the three levels of government (you have to get all three)
What are federal/national, state & local (city, county, district)
The federal/U.S. Government collects taxes by withholding a percentage of an employees income for several years & when one retires or is disabled they can collect funds from a federal government for health care help
What is MEDICARE
The tax form used when you start a new job/employment
What is the W-4
The IRS & federal income tax began during this historic U.S. event
What was the U.S. Civil War
Tax charged for someone's assests such as homes, condos, land & private businesses
What is a PROPERTY TAX
In Nebraska, this level/s of government government gets most of it's revenue from property taxes
State/Nebraska & Local
Income one gets other than from employment
What is UNEARNED INCOME
The tax form you receive (usually through the mail) from your employer that lists your previous years income & deductions
What is a W -2
This U.S President started the federal implementation of American income tax program
Who was Abraham Lincoln
Term used when one is taxed on earnings as an employee (SS/Medicare/income) based on gross income.
What is a PAYROLL TAX
The Federal/National/U.S. government gets most of it's revenue from this type of tax
What is FEDERAL INCOME TAX
Term used when a percentage of an employee's income is withheld from their pay for social security, medicare & income tax.
What is PAYROLL TAX
What office employee handles all the tax accounting details for Centura
Who is Ann Kroeger
The acronym IRS stands for ?
The Internal Revenue Service
A type of tax that collects money from sales of certain goods such as, gas, jewelry
What is an EXCISE TAX
What does the acronym FICA stand for
What is the Federal Insurance Contributions Act
Uncle Sam is a term that is used as a symbol for the .......... ............ ................
What is the UNITED STATES GOVERNMENT
What percentage of a tax bracket is one to pay if they make between $44,726 & $95, 375 & they are filing as a single filer
What is 22%
We are paying a hidden/excise tax when we buy gas. How much money are we paying per gallon that is a source of revenue for the U.S. Federal Government?
What is 18.4 cents