Turbo Tax
What determines who can claim you as a dependent?
A direct family member paying for your bills
What does box one on a W2 show? (don't tell me word for word)
Income from their job last year
Who paid more total taxes, Marcel or Staphanie?
Stephanie paid more
$12,950
What hip hop group was he a part of?
Migos
What is a deduction?
Something that helps you lower your taxable income
What two addresses appear on a W2?
Yours and your employer's
Why are Marcel’s and Stephanie’s taxable incomes less than their annual salaries?
The standard deduction (you don't pay taxes on some of your income)
What happened to most people we looked at after they finished their 1040s?
They got a refund!
What part of the country did he grow up in
Atlanta, Georgia (the south)
What is a credit?
Something that helps you pay less taxes or get a larger refund
Name three types of tax that appear on a W2
California and Oregon, Oregon was higher
Owe more bc you didn't pay enough
Offset has starred in campaigns for the following: Gosha Rubchinskiy, Bryce Barnes, and Lavati. What are these?
Fashion designers
What are the three ways you can prepare your tax return?
Do it yourself, pay someone else, do it online through a software such as TurboTax
What mathematical operation do we use for rates?
Division
Roughly how much does a 2 bedroom apartment cost in these cities?
$3,000
If your calculated tax burden is less than what you already paid in taxes from your W2, will you get a refund or owe more? Why?
Refund, you already paid too much
Who did offset marry in 2017?
Cardi B
Once per year!
How would I calculate the state income tax rate?
Divide State Tax by Total Income (State Tax / Wages)
What do we mean by a standard of living?
What kind of life you can actually have based on how expensive everything is
What's the point of the standard deduction?
To decrease your taxable income
What's Mr. Rosenfeld's opinion on Offset's music on a scale from 1 to 5
It's fine I guess (3/5)