Podcast
Questions and Answers
What is the primary purpose of form W-4?
What is the primary purpose of form W-4?
- To declare income and tax liability to the federal government
- To report interest income earned
- To summarize total earnings and taxes withheld for the year
- To establish the amount of money that should be withheld from a paycheck (correct)
Which form will Dwight's employer send him to summarize his total earnings and taxes withheld for the year?
Which form will Dwight's employer send him to summarize his total earnings and taxes withheld for the year?
- W-2 (correct)
- 1040
- 1099INT
- W-4
What is the deadline for filing a tax return?
What is the deadline for filing a tax return?
- June 15th
- January 15th
- March 15th
- April 15th (correct)
What programs does FICA fund?
What programs does FICA fund?
Which benefit listed on Ajay's pay stub is optional for his employer to provide?
Which benefit listed on Ajay's pay stub is optional for his employer to provide?
What is Jill's primary financial goal?
What is Jill's primary financial goal?
What happens when you make a purchase with your debit card?
What happens when you make a purchase with your debit card?
What is the advantage of choosing a bank that is a member of the FDIC?
What is the advantage of choosing a bank that is a member of the FDIC?
What action is still necessary for Jeff to do when using direct deposit?
What action is still necessary for Jeff to do when using direct deposit?
What is a benefit of using a debit card?
What is a benefit of using a debit card?
What is an advantage of planning and tracking your expenses?
What is an advantage of planning and tracking your expenses?
What is an example of how to establish a good credit history?
What is an example of how to establish a good credit history?
What is the income type that Jill's employer withholds taxes and other deductions from?
What is the income type that Jill's employer withholds taxes and other deductions from?
Which of the following statements accurately describes which income will determine Jill's budget?
Which of the following statements accurately describes which income will determine Jill's budget?
What type of expense is Jill's clothing expenditure?
What type of expense is Jill's clothing expenditure?
Which of the following expenses is a fixed expense that Jill cannot decrease?
Which of the following expenses is a fixed expense that Jill cannot decrease?
What is one of the advantages of effective budgeting and money management that Jill will experience?
What is one of the advantages of effective budgeting and money management that Jill will experience?
What is NOT one of the advantages of effective budgeting and money management that Jill will experience?
What is NOT one of the advantages of effective budgeting and money management that Jill will experience?
What is the main purpose of the categories listed in the table?
What is the main purpose of the categories listed in the table?
Which of the following is NOT a category for assessing an applicant's credit worthiness?
Which of the following is NOT a category for assessing an applicant's credit worthiness?
Based on the information provided, which applicant would be the best choice to receive the home loan?
Based on the information provided, which applicant would be the best choice to receive the home loan?
Who gives the final credit approval for this loan?
Who gives the final credit approval for this loan?
What should Lian consider most if she plans to only pay the minimum balance due each month?
What should Lian consider most if she plans to only pay the minimum balance due each month?
What advantage would a grace period provide Lian if she pays her balance in full each month?
What advantage would a grace period provide Lian if she pays her balance in full each month?
What is the primary purpose of the federal income tax according to the text?
What is the primary purpose of the federal income tax according to the text?
What type of tax takes a larger percentage of income from high-income people?
What type of tax takes a larger percentage of income from high-income people?
What is the main purpose of filing a tax return?
What is the main purpose of filing a tax return?
What is the term for the situation when the government spends more than it receives in revenue?
What is the term for the situation when the government spends more than it receives in revenue?
What is the purpose of a 1099-INT form?
What is the purpose of a 1099-INT form?
