Term
| Are the majority of tax dollars paid to the federal government are being spent on education? |
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Definition
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Term
| Is sales tax is the same percent in each state? |
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Definition
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Term
| What date do your income tax forms need to be filed by? |
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Definition
| April 15 of the following year. |
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Term
| Does every county in Wisconsin pay the same sales tax rate? |
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Definition
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Term
| Who pays more federal income tax, single people or married people? |
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Definition
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Term
| Do you get more or less taken out of your paycheck if you claim more allowances? |
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Definition
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Term
| Do most states have sales tax? |
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Definition
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Term
| Can states choose whether or not to apply sales tax to certain items, like clothes? |
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Definition
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Term
| Do Wisconsin employers have to take out federal and state income taxes? |
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Definition
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Term
| Where are the lowest property taxes in Walworth county? |
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Definition
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Term
| Does age affect how much income tax you pay? |
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Definition
| No. Retirement does, but not age. |
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Term
| Is cash that you receive from babysitting is not considered income in the eyes of the federal government? |
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Definition
| Yes. Over $600/year is taxable, doesn't matter what you did to earn it. |
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Term
| Do you pay tax on game show winnings? |
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Definition
| Yes. (Or go to jail for tax evaision) |
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Term
| Who has lower sales tax, Walworth or Milwaukee county? |
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Definition
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Term
| How much property tax you pay is figured based on |
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Definition
| size of the property , location of the property |
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Term
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Definition
| a form that tells the employer how much tax to deduct from the employees paycheck |
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Term
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Definition
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Term
| Are roads and parks are generally paid for by tax dollars? |
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Definition
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Term
| When do you itemize deductions? |
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Definition
| When they are more than the standard deduction that the government gives you. |
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Term
| Which of the following items is not tax deductible (according to the article we read)? |
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Definition
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Term
| Which form is your employer required to get to you by the end of January each year? |
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Definition
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Term
| The amount of money deducted from your paycheck for Federal tax withholding depends on the amount of money you earned and the information provided on the W4 form. |
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Definition
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Term
| The Federal Insurance Contribution Act (FICA) taxes are: |
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Definition
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Term
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Definition
| The nation's health care program for elderly and disabled individuals |
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Term
| Which are the four required deductions? |
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Definition
Social Security, Federal Income Tax
Medicare, State Income Tax |
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Term
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Definition
| Someone who relies on a taxpayer for financial support |
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Term
| What is the percent of gross income deducted from your check for Social Security? |
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Definition
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Term
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Definition
| the schedule by which employers pay their employees. |
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Term
| The actual amount of money received in the paycheck is called: |
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Definition
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Term
| The amount of money earned before any deductions are taken out is called: |
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Definition
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Term
| What are the 3 C's of credit? |
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Definition
character
capital
capacity |
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Term
| A list from the lender of all of the payments and how much goes to principal and interest for the term of a loan is called a(n) |
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Definition
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Term
| What are the 3 credit reporting bureaus |
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Definition
Transunion
Experian
Equifax |
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Term
| Are you are entitled to one free credit report each year from each of the credit bureaus? |
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Definition
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Term
| Do you pay interest when you use a credit card? |
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Definition
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Term
| Will too much available but unused credit may cause a lender to consider you a poor risk? |
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Definition
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Term
| The 20/10 rule applies to |
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Definition
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Term
| Is a credit score of 550 is good? |
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Definition
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Term
| What is a legal process to get out of debt when you can no longer make all your required payments? |
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Definition
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Term
| Another term for the interest charged for the use of credit is |
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Definition
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Term
| The "C" of credit that answers the question "Are you the type of person who will repay the debt?" is |
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Definition
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Term
| The "C" of credit that answers the question "What if you don't repay the debt?" is referred to as |
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Definition
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Term
| The "C" of credit that answers the question "Can you repay the debt?" is known as |
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Definition
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Term
| In the 20/10 rule, the 20 represents |
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Definition
| the maximum debt that you should carry based on your annual net pay |
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Term
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Definition
| payment for the use of someone else's money |
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Term
| Can credit reporting bureaus can legally keep records of your credit history? |
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Definition
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Term
| When looking at an amortization schedule, the principal column is what? |
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Definition
| The amount that is being credit toward the balance of the money that you borrowed. |
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Term
| Is The cosigner is obligated to pay off the loan if the borrower can not? |
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Definition
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Term
| Can the total cost of the loan can be reduced by making a smaller down payment? |
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Definition
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Term
| The cost of credit is computer by multiplying which 3 numbers together? |
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Definition
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Term
| Does increasing the length of the loan increase the amount of interest that you will pay? |
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Definition
| All other things being equal, yes. |
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Term
| Will you reduce the balance owed on a loan by making interest only payments? |
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Definition
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Term
| Is public debt large enough to effect the American economy? |
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Definition
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Term
| What did Wesley Snipes do to end up in prison? |
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Definition
| Failure to File Tax Returns |
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Term
| Sales taxes paid help to support which agencies? |
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Definition
| State and County Government |
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Term
| How much do most millionaires normally spend on a suit? |
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Definition
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Term
| Do financial experts agree that you should have credit cards and use them as much as possible? |
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Definition
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Term
| Who is at fault in the current American debt crisis? |
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Definition
| Lenders, borrowers, government |
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Term
| Who is ultimately responsible for repairing your credit if you get yourself into trouble? |
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Definition
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Term
| What two items can be deducted from your gross income before tax is calculated, thus lowering the tax that has to be paid? |
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Definition
| Retirement and Health Insurance |
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Term
| Your FICO score is based on |
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Definition
| your record of paying your bills on time, the length of your credit history , total balance on your loans compared to your credit limit |
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Term
| Is your personal information included on your credit report? |
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Definition
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Term
| An amortization schedule is |
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Definition
| a schedule of monthly loan payments showing principal and interest |
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Term
| Per the Maxed Out Movie, are the people in the credit industry who prey on the poor and struggling were small "fly-by-night" scammers, not big corporations? |
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Definition
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Term
| Who did the credit card companies pay millions of dollars to so that they could use their logos? |
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Definition
| Public & Private universities. |
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