Cards in this guide (22)
What institution insures individual banking accounts
minimum check-writing fee
Which of these is the best description of an assessment
What type of tax is usually paid to the county treasurer
What is the best definition of a progressive tax system
a tax system that takes a larger proportion of income from
high-income people than from low-income people
What is the total percentage of income that will be withheld from any employee's paycheck for Social Security and Medicare taxes
What type of tax is levied on goods bought in a store
What is the best definition of taxable income
For Federal income tax purposes, taxable income is the portion
of a taxpayer's gross income on which his regular income tax
liability (before payments and credits) for the year is based.
Income from any given source is taxable, unless the Code
specifically says it isn't taxable.
Calculation:
Taxable income starts with gross income, which according to the
US Internal Revenue Code, is all income from whatever source
derived. Gross income is then reduced by certain adjustments
allowed by the IRS (e.g. for student loan interest, alimony paid,
and 10 or so other specific items) to get adjusted gross income.
Adjusted gross income is then reduced by exemptions (both personal
and for any dependents) and itemized deductions (or the standard
deduction) to arrive at taxable income.
Which of these is true of an annuity
there are two types of annuities including fixed and
variable
Which of these is an element of whole life insurance
under this type of policy, the insured pays premiums for his or
her entire life :)
thankkk emery.s (;
Which of these statements is most complete with regard to the role of the producer in an economy
Producers consume both goods and services.
Who was the first person to get a social security number
The first person to receive a social security number is actually
unknown. See Related Links.
Which of these is the best description of a grant
it is a direct payment from the state to local government.:)
Does a higher education necessarily mean that you will get paid more money
The Social Security tax is 6 2 percent and the Medicare tax is 1 45 percent of your annual income How much would you pay per year to FICA if your annual earnings were 47000
47000 times 7.65 % the amount of FICA would be 3595.50.
What is used to reconcile a bank statement
Ending Balance: $676.23
Outstanding Deposits: $356.71
Outstanding Checks: $321.15
711.79
How many states do not impose state tax on earned income
Which type of tax is calculated on a per-item basis
An excise tax or sales tax is calculated on a per-item basis
What type of account contains contributions made with after-tax dollars
Which of these does not describe a total consumption budget
it is designed to reach short-term goals
Which is not usually required by the lender when you apply for a home mortgage
At What age can Americans begin receiving Social Security benefits
What following accounts are only offered by employers to their employees