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Tax Brackets
Vocab
Random
Witholding
Income
100

What are the 4 filing statuses?

Single, Married filling Jointly, Married filling Separately, Head of Household
100

the amount of money taken from a paycheck that goes towards your taxes owed

What is withholding?

100

Where is Ricker Hill Orchards?

Turner, Maine

100

Mark is single and is paid 600 each week. How much is withheld from each check if he claims one allowance?

$49.00

100

this is the amount of your income that your taxes are based on. 

What is taxable income?

200

A person who keeps a home up for someone who financially depends on them

What is head of household?

200

The total amount of taxes due in a year

What is Tax Liability?

200

2

What is simply to many apples to eat in one sitting?
200
Batman is working a side job as a cashier at CVS and earns $550 a week. How much will be withheld this year? (Batman always files single 4 allowances - I cant believe you even had to ask, kids these days)

$832

200

equal to gross income - adjustments

What is AGI (adjusted Gross Income)?

300

What is your tax liability if you are Single and have a taxable income of $38,350

300
$12,200

What is the standard deduction for a single person?

300

This river runs through the Grand Canyon

What is the Colorado River?

300

You are paid 16.50 an hour and work full time. You are paid once a month and claim one allowance. How much will be withheld from each check?

$219

300

AGI - deductions

What is taxable income?


400
You are married filling jointly and have a taxable income of $75,000. What is your tax liability?
400

This is the total amount of money that you (or you and your spose if filling jointly) take in in a year

What is gross income?

400

The lead Guitarist in the band "The Who"

Pete Townsend

400
Natasha gets paid 700 a week. She is a single apple grower who claims 2 allowances. Lets assume instead of paying money, she pays her taxes in Apples (gala) and 3 apples is equal to 1 dollar. How many apples will she have to pay in withholding this week? 

186 apples

400

When should someone take an itemized deduction?

When their deductible spending is more than their standard deduction

500

You are filling as Head of Household with a taxable income of $82,000. What is your tax liability

500
April 15th

When is tax day?

500

In "Family Guy", what does Peter put in Joe's water making him win the Special People's games?

Steriods
500

Mark works 50 hours a week and is paid $17 an hour, with double time over 40 hours. He is single and claims 1 allowance. If he is paid every 2 weeks, how much will he have withheld this year?

$5642

500

Mary Beth and her husband have a combined gross income of $86,500. They qualify for $2,500 in adjustments and claim a standard deduction. What is their taxable income

$61,600