hw quiz 2
Itemized deductions are listed on schedule
A
You are preparing your own tax return; the least costly source for answering your questions would be
IRS 800 number
Which of the following state and local taxes are deductible on federal income taxes for those that itemize deductions
income taxes and property taxes
A [blank] would be most likely to have to pay estimated taxes
self-employed plumber
Ben and jack both earned $60,000 this year; ben (age 30) is married w/ 2 kids, and jack (age 68) is single w/ no dependents; which of the following is true regarding the amount of social security taxes they will pay
they will pay the same amount of social security taxes
A short-term capital gain would be taxed at the same rate as your salary
true
Dividends received from the stock you own will be taxable income
true
If you are eligible to receive a tax refund, you will have to file a tax return to get the refund
true
One's average tax rate is typically lower than one's marginal tax rate
true
The federal personal income tax is a progressive tax
true