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Taxes and Tax Preparation

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Ladarius Brekke

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Term1/21
Which of the following is a description of withholding
Definition1/21

it is the amount employers subtract from an employee's check each pay period.

Term1/21
What is a deduction on an income tax form
Definition1/21

a dollar amount that reduces the amount of taxable income...

Term1/21
Which term is defined as the payment an insured makes to the insurance company on a regular schedule
Definition1/21

premium

Term1/21
Which type of insurance offers benefits to help with living expenses when a person is unable to work during illness or from an accident
Definition1/21

disability insurance.....

Term1/21
What is the best definition of unearned income
Definition1/21

Unearned income is any income that was not paid as part of the compensation for services provided by the taxpayer.

An example is income that is generated as a result of investments, properties, stocks and bonds, etc.

Term1/21
Which of these forms lists how much was paid in state and local taxes
Definition1/21

W-2

Term1/21
Which of these can be claimed for individuals or any eligible dependents
Definition1/21

Exemptions!!

Term1/21
Which of these is an element of whole life insurance
Definition1/21

under this type of policy, the insured pays premiums for his or her entire life :)

thankkk emery.s (;

Term1/21
What is an important reason for knowing the approximate difference between your gross pay and your net pay
Definition1/21

Knowing the difference will allow you to develop a realistic budget based upon your take-home pay.

Term1/21
What type of insurance will pay for a persons loss of sight
Definition1/21

accidental death and dismemberment

Term1/21
Who recieves the benefits or money from a life insurance policy upon the death of the insured
Definition1/21

The person, company or trust that is specified under "Beneficiaries" section in the insurance policy will receive the life insurance benefits. If the beneficiaries are more than one, the benefit is split according to policy details, or policy schedule pages.

Term1/21
What is best definition of taxable income
Definition1/21

the portion of your income that is eligible for taxation

Term1/21
Which of these is not requirement for claiming an individual as a dependent
Definition1/21

The child must have lived with the taxpayer for more than three years.

Term1/21
Were you in compos mentis when you advised me to buy that house
Definition1/21

Sound mind A+

Term1/21
Who should be invited to an engagement dinner
Definition1/21

Parents,family,and close friends

Term1/21
What is withholding payment
Definition1/21

A payment that is withholding is a payment that withholds.

Term1/21
Which type of annuity credits an individual with a return that is based on changes in an index
Definition1/21

indexed! :)

Term1/21
What term fits a weapon of execution
Definition1/21

guillotine

Term1/21
What can be added to an insurance policy to allow the insured to receive a higher benefit-
Definition1/21

Double indemnity can be added to an insurance policy to allow the insured to receive a higher benefit.

Term1/21
Which of these is a description of allowances
Definition1/21

special circumstances that reduce a persons federal tax bill

Term1/21
WHO Monica gave a compte rendu of her trip.
Definition1/21

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Cards in this guide (21)
Which of the following is a description of withholding

it is the amount employers subtract from an employee's check each pay period.

What is a deduction on an income tax form

a dollar amount that reduces the amount of taxable income...

Which term is defined as the payment an insured makes to the insurance company on a regular schedule

premium

Which type of insurance offers benefits to help with living expenses when a person is unable to work during illness or from an accident

disability insurance.....

What is the best definition of unearned income

Unearned income is any income that was not paid as part of the compensation for services provided by the taxpayer.

An example is income that is generated as a result of investments, properties, stocks and bonds, etc.

Which of these forms lists how much was paid in state and local taxes

W-2

Which of these can be claimed for individuals or any eligible dependents

Exemptions!!

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 (;

What is an important reason for knowing the approximate difference between your gross pay and your net pay

Knowing the difference will allow you to develop a realistic budget based upon your take-home pay.

What type of insurance will pay for a persons loss of sight

accidental death and dismemberment

Who recieves the benefits or money from a life insurance policy upon the death of the insured

The person, company or trust that is specified under "Beneficiaries" section in the insurance policy will receive the life insurance benefits. If the beneficiaries are more than one, the benefit is split according to policy details, or policy schedule pages.

What is best definition of taxable income

the portion of your income that is eligible for taxation

Which of these is not requirement for claiming an individual as a dependent

The child must have lived with the taxpayer for more than three years.

Were you in compos mentis when you advised me to buy that house

Sound mind A+

Who should be invited to an engagement dinner

Parents,family,and close friends

What is withholding payment

A payment that is withholding is a payment that withholds.

Which type of annuity credits an individual with a return that is based on changes in an index

indexed! :)

What term fits a weapon of execution

guillotine

What can be added to an insurance policy to allow the insured to receive a higher benefit-

Double indemnity can be added to an insurance policy to allow the insured to receive a higher benefit.

Which of these is a description of allowances

special circumstances that reduce a persons federal tax bill

WHO Monica gave a compte rendu of her trip.

Report

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