Personal Finance Courses: Taxes

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1.
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.
2.
Retired workers receive more in benefits from Social Security than they contributed to it during their working years.
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True. They receive more; this is a big advantage during one's retirement years.
3.
When it comes to your taxes, what is the standard deduction?
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A pre-set amount of money that you get to deduct. As opposed to itemized deductions, the standard deduction is simpler and saves more money for most taxpayers.
4.
What type of tax increases as your income increases?
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Progressive tax. Income tax is an example of a progressive tax.
5.
What is the standard U.S. individual tax return called?
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The 1040. IRS Form 1040 is the standard form.