Tax Forms
A type of tax form that your employer sends you.
What is W-2?
A type of tax structure based on your ability to pay. The more money you earn, the higher step you are in the tax bracket, meaning you pay more in income tax relatively.
What is a progressive tax structure?
A myth about doing taxes
What is "doing taxes is easy, you just calculate the tax percentage multiplied by your income"?
A type of tax form that can be filled out by a tax software or accountant.
Finding taxes by just multiplying your income by the same percentage.
What is flat tax?
Tax form filled out in January, tax form filled out in April
What are W-2, W-4?
A type of tax form that must be refiled if your tax status changes (like in marriage).
What is W-4?
The standard deduction for a single person.
What is 12,500?
An example of a software that helps you fill out the 1040.
What is TurboTax or TaxSlayer?