Types of Taxes
You pay this type of tax every time you make a purchase (exception on food)
What is sales tax?
This form comes in January and tell you how much you made, and how much of your salary went towards certain taxes.
What W2
What is taxes?
These are taken at the beginning or off the top.
What are deductions?
I need to be sent to the the IRS by a special date.
What is April 15th?
The town you live in will make you pay this type of tax when you own your own home.
What is property tax?
You fill this form out every time you start a new job.
What is the W4?
What is the number of different types of taxes?
These are given at the end or at the bottom.
What are credits.
Single, Married Filing Jointly, Married Filing Separately, Head of the Household `
When I booked my flight to Aruba this type of tax was included in the price of my ticket.
What is travel tax
You can fill out this form with paper and pencil, electronically, or have an accountant do all the work.
What is the 1040
There are three things that affect how much we pay in taxes.
What is salary, state you live in, and cost of living?
A tax deduction lowers this
What is your taxable income?
I am an 18 year old full time college student.
What is a dependent?
When may grandmother passed away, she left me her home in her will. What type of tax was I charged for?
What is inheritance tax?
Because I own my own business I need to fill out this form.
What is the 1099?
To figure out how much I pay in taxes I first have to calculate this?
What is my taxable income?
This is a dollar for dollar reduction.
What is a tax credit?
12,550
What is the standard deduction?
This is a tax on harmful substances like tobacco and alcohol.
What is a sin tax?
When I apply for a job I need two forms of ID, like a drivers license and my social security card, to fill out this form.
What is the I9?
When calculating total taxes owed I have to use what tax brackets?
What is the bracket my total taxable income fall in and all the brackets above that?
This is a large fixed dollar amount determined by the Federal Government
What is the standard Deduction?
If I overpaid in the end I will receive this.
What is a refund?