Tax Forms
Who fills out a W2?
You
April 15
Gross Pay
Pay without deductions
What percent of your pay is deducted in FICA?
7.25%
How LONG did Mr. Rust say it would take a professional to complete your taxes for you?
1 hour
Report for nonemployee compensation
What is a 1099?
January 1st to December 31st
What is the tax year?
Net Pay
What is take home money?
What percent of pay is deducted in Social Security
6.2%
How MUCH did Mr. Rust say it would cost for a professional to complete your taxes for you?
$400
What is a W4?
Tells how your employer how much to withhold
January 31st
When must your employer submit your W2?
Salary
Pay over the entire year
What percent of your pay is deducted for Medicare?
1.05%
If I can't file my taxes in time, what should I do?
File for an extension as soon as possible
What is a 1099 INT
A form that reports income from interest, and stocks
Are tips taxed?
Yes
What deductions are included in FICA
It is better to file an extension after the tax due date than to not file for an extension
True
What is a 1040?
What you fill out for you individual income
When is your last chance to claim a refund?