Show:
Taxes
Goals
Tax Returns
Budgeting
Miscellaneous
100
taxes on an item you buy at the store
What is a sales tax?
100
A type of goal that is accomplished in a year or less
What is a short-term goal?
100
April 15th
What is tax day? (date that tax returns are due to the IRS)
100
tracking your income and spending on the computer, an app for your phone, or on paper
What is a spending plan? (Budget)
100
Something that you must have to survive
What is a need?
200
True or False: You must pay taxes on lottery and game show winnings
What is true?
200
a type of goal that is usually accomplished in 2-5 years
What is a medium-term goal? (Intermediate goal)
200
the organization that monitors and handles tax returns
What is the Internal Revenue Service (IRS)?
200
money that you earn is recorded as this on your budget
What is income?
200
something you desire but can live without
What is a want?
300
taxes taken out of the money you earn
What is income taxes?
300
buying a house is considered this type of goal
What is a long-term goal?
300
the simplest tax return form you can use
What is a 1040EZ tax return form?
300
Expenses that stay the same every month without changing
What is a fixed expense? (Contractual expense)
300
Paying a tax that you can see added on to an item
What is a direct tax?
400
a tax that is built into the cost of an item so you pay it without actually noticing the tax on the item
What is an indirect tax?
400
5 step process for creating a goal
What is a SMART goal?
400
Two forms that are used to help you fill out your tax returns
What are W2 and 1099-INT forms?
400
expenses that change every month
What is a variable expense?
400
A person who is divorced would file their taxes as this
What is a Single person?
500
the more money you make the more you pay in income taxes and the higher the percentage of your income is taken out
What is a Progressive tax?
500
the more ____________ you get the easier it is to accomplish your goals because you will make more ___________
What are education and money?
500
Intentionally not reporting income that you made is considered this
What is tax evasion?
500
the first thing you should/must do when you get paid each pay period
What is "pay yourself first"? (Put money into savings)
500
the minimum amount you are expected to pay in taxes
What is your tax liability?