Taxes
TAXES
Math time!
Miscellaneous
Forms
100
A tax on goods from another country

Tariff

100

A tax you pay when you buy a specific item is called...

Excise tax 

For double points: give an example of an excise tax

100

Gross Pay - Deductions =

Net pay

100

Taxes are due by...

April 15

100

This form confirms that you are eligible to work in the United States

I-9

200
A tax you pay when buying any good or service

sales tax

200

If you pay too much in taxes during the year, you are entitled to a...

refund

200

Colby works 62 hours this week and earns $10 per hour. Calculate his gross pay

$730

200

Taxes pay for...

public services

200

The form is used to file an individual tax return

1040

300

A tax you pay on the value of your property (example: on the value of your house)

Property Tax

300

The United States Federal Income tax is a...

Progressive Tax

300

Caitrin bought some clothes at American Eagle. The subtotal was $57. How much did she pay after Virginia State Sales tax?

$60.02

300

Name the four mandatory paycheck deductions

State Income Tax, Federal Income Tax, Medicare, Social Security

300

This form is for unearned income, or income that may not have been taxed

1099

400

Willfully not paying your taxes is called...

tax evasion

400

In a Progressive Tax system...

the more you make, the more you pay

400

Sara makes $65,000 a year. If her only exemption is the Standard Deduction, how much of her income is taxable?

$50,400

400
When filing taxes, the goal is to...

lower your taxable income

400

This form is a part of new hire paperwork. You complete it to tell your employer how much tax to withhold

W-4

500

IRS stands for...

Internal Revenue Service

500

An excise tax is often...

included in the price of an item

500

Ike worked 45 hours this week and 6 hours of double time. He makes $17 an hour. Calculate his gross pay

$1,011.50

500

Name the two FICA taxes

Social Security

Medicare

500

Your employer must give you this form by January 31st of each year. It is a summary of your wages from one employer

W-2