Vocab
You fill out 1040's for this.
What is an income tax?
This is the standard income tax form.
What is a 1040?
The GOAT.
Who is Dave Ramsey?
What is $38,495?
This is the taxable income based on the following information. Business profit: $45,290; profit from real estate sale: $29,568; insurance benefit received for damages: $1298; interest on corporate bonds: $1800
What is $76,658?
A gift that is less than $15,000 is an example of this.
What is non-taxable income?
This is a now outdated tax form for income tax.
What is a 1040EZ or a 1040A?
Just. The. Worst.
Who is Jon Acuff?
This is the adjusted gross income with the following information: Compensation and Income: Wages $28,956; Dividends $692; Interest: $76. Adjustments: IRA contribution: $650; Business Expense: $29
What is $29,045?
What is $74,163?
The number of people in your household help determine this part of your taxes.
What is a tax deductible?
This is taken out of your paycheck to be set aside for your retirement.
What is social security tax?
Has the eyes of a maniac.
Who is Rachel Cruze?
Find the taxable income based on the standard deductions and exemptions table on p. 489. Adjusted gross income: $30,400. Married separately with 3 exemptions
What is $19,589?
This is the taxable income after the standard deductions and exemptions on p. 489. A single person with a $44,789 adjusted gross income and 1 exemption.
What is $36,989?
What is an estate tax?
This the date that taxes are filed.
What is April 15th?
Unseen and unknown.
Who is Dave's wife Sharon?
What is the itemized deduction?
This is where a millionaire would pay a higher income tax between Iowa and Illinois.
Where is Iowa?
Gross pay is defined as this.
Illinois has a flat version of this. Iowa has a progressive version of this.
The star of Dave Ramsey's speakers (not counting Dave).
Who is Chris Hogan?
Where is Illinois?
These are 3 of the 7 states without a state income tax.
Where is Wyoming, Washington, Texas, South Dakota, Nevada, Florida, or Alaska.