General
Money you earn from working.
What is income?
State-wide government tax.
What is state tax?
This form provides information on your income and taxes for the year. This form is needed to file your taxes.
What is a W-2?
This tax is placed on expensive items (diamonds, cars, etc).
What is luxury tax?
Income you earn before taxes.
What is gross pay?
Nation-wide government tax.
What is federal tax?
This tax form is used to report your income and taxes.
A general tax placed on most purchases.
What is a sales tax?
Income you earn after taxes.
What is net pay?
Tax that funds retirement or individuals with disabilities.
What is social security tax?
The day that taxes must be filed by.
What is April 18th?
True or False: A tax is placed on feminine hygiene products.
Money that the government takes out of your paycheck.
What are taxes?
Tax that funds medical treatment for individuals with disabilities.
What is Medicare tax?
Money that the government pays back to taxpayer.
What is a tax refund?
Taxes are used to pay for _____, _______, _______.
Taxes are used to pay for infrastructure, natural disasters, government programs.
How old do you have to be to collect retirement?
67 or older (as of 2022).
The reason for a tax refund.
Because the government collected too many taxes over the year.