Taxes Check-In day 3

Which of the following items is not on your W2?

• Social Security deductions

• Social Security Number

• Birth date

• Gross Wages

A ​ (a)   is a form that you fill out to provide the information your employer needs to determine the proper amount to withhold from your paycheck

• W4
• W2
• 1099
• I9
• 1040
• W9

Organize these options into the right categories: Tax Forms You fill out vs. ones you receive from employer

Groups:

(a) Tax forms YOU FILL OUT

,

(b) Tax forms you RECEIVE from employer

• 1040

• W4

• 1099

• W2

• I9

A tax form filled out by an individual and filed with the IRS that determines the amount of income tax owed in a single year.

• 1040

• 1099

• I9

• W2

Billy is 18 years old and lives with his parents. He earned a net $1,200 from his small woodworking business. Is Billy REQUIRED to file a tax return?

• Yes, he is 18

• Yes, he earned more than $400

• No, he did not earn $13,850

• No, he still lives with his parents

Jacob is 20 years old, he is a full-time freshman in college and he lives with his parents. He makes $13,800 a year. Is Jacob a dependent?

• No, he is older than 19

• No, he makes too much money

• Yes, he is a full-time student under 24

• Yes, he made $13,800

What you earn BEFORE any deductions or taxes come out

Which categories below are considered discretionary spending?

• Education

• Social Security

• Medicare

• Military

• Science

What are the ways to file your taxes?

• Paper Filing-you complete the 1040 on paper and mail it in

• At the library

• Online/tax preparation software-you fill out the 1040 online

• Hire a professional

The Federal Insurance Contributions Act (FICA) includes what 2 MANDATORY taxes?

• Education and Health Care

• Social Security and Medicare

• Medicare and Military

• Social Security and Military

• Military and Agriculture