Tax collected based on the value of the property you own.
What is Property Tax?
100
A tax with a constant rate.
What is a Flat Tax (or Proportional Tax)?
100
The total money earned, before deductions.
What is Gross Pay?
100
John's overtime rate if he makes $9.15/hr regular wage.
What is $13.73?
100
The three basic Internal Revenue Services tax returns.
What are the Forms 1040EZ, 1040A, and 1040.
200
Tax collected based on the value of items you purchase.
What is Sales Tax?
200
A tax where the rate increases as the income increases.
What is a Progressive Tax?
200
Taxes that employers withhold and send to the government. (Such as federal, state and local taxes.)
What are Withholding Taxes?
200
John's gross weekly pay if he works 48 hours at $9.15/hr regular wage and $13.73/hr overtime wage.
What is $475.84?
200
A deduction for each of your dependents, including yourself.
What is an Exemption?
300
The amount of income, after deductions, used to determine the amount of tax for which a taxpayer is responsible.
What is Taxable Income?
300
A tax where the rate decreases as the income increases.
What is a Regressive Tax?
300
A list of all an employee's deductions sent by the employer at the end of the year. (Really, the beginning of the following year.)
What is a W-2?
300
The amount of Social Security tax due on an annual income of $35,300.
What is $2188.60?
300
The money Katrina will owe the government at the end of the year if her employer withheld $14,870 in federal taxes, but she owes $15,200.
What is $330?
400
A special filing status for certain unmarried taxpayers who support people in addition to supporting themselves.
What is Head of Household?
400
The divisions at which tax rates change in a progressive (or regressive) tax system.
What are Tax Brackets?
400
The form an employee submits at the beginning of employment, upon which tax deductions will be calculated.
What is a W-4?
400
The annual Medicare tax due for a taxpayer earning $406 weekly.
What is $306.12?
400
The difference between the $9,873.33 in federal taxes withheld by Dan's employer and the $8,792.75 he determined was his tax at the end of the year.
What is the amount of money Dan will receive as a refund?
500
The amount of tax a taxpayer will pay on $51,050 if the tax due is $5975.00 + 25% of the amount over $43,650.
What is $7825.00?
500
Julie's taxable income if she pays an average of 25% in federal taxes and her tax is $13,062.50
What is $52,250.00?
500
The summary form listing income from interest on bank accounts, interest from stocks, royalties, and more.
What is a Form 1099?
500
The amount Alice saved in federal taxes by contributing to an FSA plan in the amount of $2150, if her previous taxable income was $63,275 and she is taxed at a rate of 25%.
What is $537.50?
500
The number of $312 car payments Alyson will be able to make with her refund if her employer withheld $14,215 and her tax is $13,221.