Types of Tax
This type of tax is used to discourage "undesirable behavior" in society.
What is a Sin Tax?
What is a 401k?
This is extra money you pay as punishment when you file your taxes late.
What is a Penalty?
This is the total amount you have been paid after tax.
What is Net Pay?
You move up this ladder as you earn more money.
What is a Tax Bracket?
This kind of tax is applied to most items that we buy from a retail store.
What are Sales Tax?
This credit helps people who have children under the age of 17.
What is Child Tax Credit?
This determines how you are filing your taxes. (Single or Married)
This is a tax paid for free medical care.
What is Medicare Tax?
This determines how much income tax you owe.
This is a type of tax paid from our paychecks.
What is Income Tax?
This is a deduction everyone can use for their taxes for the same amount.
What is Standard Deduction?
What is the date of the tax deadline for the filing year of 2024?
What is 4/15/2025?
This is the amount you have been paid before tax.
What is gross income?
This refers to the amount of tax you prevent the government from taking.
Consumers pay this type of tax on foreign products.
What are tariffs?
You can write off your taxes when you give money to a qualifying organization.
What is charitable contributions?
This is when the IRS questions you on the taxes you have filed.
What is an Audit?
This tax is paid to support retired people.
What is social security tax?
This is a tax form used for independent contractors.
What is a 1099?
This is a tax you pay for owning land.
What is Property Tax?
This kind of deduction can be calculated with property tax, medical bills, mortgage interest, and gifts to charity.
What is Itemized Deduction?
This is when you tell the IRS you earned less than you actually did.
What is Underreporting Income?
This is a tax you pay for when you work for yourself and own your own business.
What is Self Employment Tax?
What is a W2 Form?