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1.
When it comes to your taxes, what is the standard deduction?
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.
2.
The purpose of the W-4 form that you fill out when starting a new job is to determine _______.
How much should be withheld from your paycheck for federal income taxes. The W-4 helps you and your employer avoid overpaying or underpaying throughout the year.
3.
Personal information you will need to prepare your tax return includes _______.
Your Social Security number. Personal information you will need to prepare your tax return includes your Social Security number.
4.
All other factors being equal, waiting until which age would let you receive the most Social Security benefits?
70. The longer you wait, up until age 70, the more you will receive in Social Security benefits.
5.
You can take a tax deduction for some education-related expenses. Which of the following does that include?
