Taxes
Forms
Federal Spending
Budgets
Potpourri
100
this is a tax for which the percentage of income paid in taxes decreases as income increases
What is a regressive tax?
100
This form gets sent to you that shows income and taxes paid for the year
What is a W2
100
spending on certain programs that is required by existing law
What is mandatory spending?
100
a budget in which revenues are equal to spending
What is a balanced budget?
100
after listing all your income, your goal is to do this
What is reduce income?
200
a tax for which the percentage of income paid in taxes increases as income increases
What is a progressive tax?
200
Itemized deductions use this form
What is Schedule A?
200
social welfare programs tha people are entitled to if they meet certain eligibility requirements
What are entitlements?
200
budget for day-to-day expenses is called this
What is an operating budget?
200
this number is vital to your tax preparation
What is a social security number?
300
income, property, good, or service that is subject to a tax
What is tax base?
300
business deductions use this form
What is Schedule C?
300
spending category about wheich government planners can make choices
What is discretionary spending?
300
budget for major capital, or investment expenditures is this
What is a capital budget?
300
interest you received is mailed to you in this form
What is a 1099?
400
income received by a governnment from taxes and nontax sources
What is revenue?
400
gains and losses from your stocks should be listed on this schedule
What is Schedule D
400
simplicity, efficiency, certainty, and equity are four characteristics of this
What is a good tax?
400
Local budgets dedicate the the highest percentage of our property taxes for this
What is education?
400
with no deductions, you may file your taxes with this form
What is a 1040 EZ?
500
a tax for which the percentage of income paid in taxes ramains the same for all income levels
What is a proportional tax?
500
you fill out this form to determine how much to withhold from your wages
What is a W4?
500
this group is expexted to place a major burdon on the Social Security program in the next decades
Who are the baby boomers?
500
one of the two main sources of state revenue
What is sales tax and income tax
500
with deductions, you need to file your taxes with this form
What is a 1040?
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