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Published byGilbert Reed Modified over 9 years ago
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Taxation Personal Finance – Ch 9
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Types of Tax Payroll Tax Sales Tax Real Estate Tax Gasoline Tax
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Payroll Taxes Tax Deductions Federal State Local/City FICA Voluntary Deductions Health Care Retirement Union Dues Tithing/Charitable Contributions
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1040 Form
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Tax Forms W-4 I-9 W-2 1040 1040EZ
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W4 W-4 Withholding allowances
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W4 Line 5 is where you write your withholding allowances. Usually a number between 0 and 7. Higher # = less $ withheld Lower # = more $ withheld Less chance of tax return. Greater chance of tax return.
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I9 I-9: Employment Eligibility Verification Form INS – IRS form Original identification No exceptions
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I-9
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W-2 W-2: Wage and Tax statement All earnings and taxation from an employer listed
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1040 EZ 1040EZ < $50,000 income < $400 interest
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Filing Taxes Filing Status Single Married, Joint File Married, Individual File Head of Household Widow/Widower w/ dependent child Deductions Standard Itemized Exemptions Dependents HAS & IRAs Credits
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Tax Rate Tax Bracket Marginal Rate Effective Tax Rate
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