Personal Finance Courses: Taxes

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1.
The various income tax filing statuses include _______.
Choose wisely. There is only one correct answer.
All of the above. There are several statuses that determine your rate.
2.
Several different tax forms that get sent to you will list the income you received during the year. Which of the following does NOT list income that you received?
Choose wisely. There is only one correct answer.
W-4. Your W-4 does not list income you received. But your W-2s and any 1099s you receive will.
3.
You can take a tax deduction for some education-related expenses. Which of the following does that include?
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All of the above. All of these expenses qualify.
4.
Social Security is a federal _______.
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Retirement and disability income program.
5.
If you are taking tax deductions for meals, car expenses, and travel, you are most likely _______.
Choose wisely. There is only one correct answer.
A small business owner. Small business owners get to deduct a lot of expenses from their income, thus saving them money. This is one of the perks of being in business for yourself.