Personal Finance Courses: Taxes

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1.
When you take time to engage in tax planning, you can save yourself money you would otherwise pay to the government in taxes.
Choose wisely. There is only one correct answer.
True. When you take the time to engage in tax planning, you can save yourself money you would otherwise pay to the government in taxes.
2.
All other factors being equal, waiting until which age would let you receive the most Social Security benefits?
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70. The longer you wait, up until age 70, the more you will receive in Social Security benefits.
3.
The various income tax filing statuses include _______.
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All of the above. There are several statuses that determine your rate.
4.
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?
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W-4. Your W-4 does not list income you received. But your W-2s and any 1099s you receive will.
5.
Tax adjustments, deductions and credits all have one thing in common. What is that?
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They reduce the amount of tax you have to pay. Adjustments, deductions and credits all reduce the amount of tax you have to pay. They all do this in different ways.