Question 8: Which of the following is not a mandatory deduction from gross pay? Answer: A. Federal income tax withholding Union dues с. Social Security tax D. Medicare tax B.

Which of the following taxes is paid by the employee and the employer? a.SUTA b.Federal withholding taxes c.FUTA d.FICA   3

Unions dues, vacation account, 401k, insurance, subtracted from gross pay Options are: personal exemptions, tax deductions, adjusted gross income, social security tax, taxable wages, fit, net pay, personal deductions, Medicare tax, dependent, graduated income tax, and withholding allowances. Which one is it?

Which of the following items is exempt from including into the assessable income for salaries tax purposes? Select one: a. Leave pay b. Commission c. Compensation for termination of employment not provided in the contract d. End of contract gratuities

11. Voluntary payroll deductions may include all of the following deductions, except for: a. union duesb. 401K deductionsc. group hospital insuranced. FICA taxes

Question 11: Which statement about calculating taxable earnings for Social Security tax is accurate? Answer: A. 401(k) contributions are taxable for Social Security tax and are subtracted from gross pay when calculating taxable earnings for that tax. В. O 401(k) contributions are taxable for Social Security tax and are not subtracted from gross pay when calculating taxable earnings for that tax. С. O 401(k) contributions are not taxable for Social Security tax and are subtracted from gross pay when calculating taxable earnings for that tax. D. O 401(k) contributions are not taxable for Social Security tax and are not subtracted from gross pay when calculating taxable earnings for that tax.

Question 8: Collectively, Social Security tax and Medicare tax are referred to as FICA taxes. Answer: A. O True В. O False

QUESTION 4 Which of the following allow a tax filer to legally reduce the amount of tax owed? Select all that apply. O A. The standard deduction. B. Tax returns. C. Tax evasion. D. Tax exemption. E. FICA taxes paid. F. Tax credits. G. Itemized deductions. QUESTION 5 Which of the following best describes taxable income? O A. The sum of your adjusted gross income and earned income tax credit. B. The sum of your wage income, unemployment benefits, and interest. C. The amount of income on which taxes were withheld by your employer. D. The amount of income you have after subtracting allowable deductions and exemptions.

Question 30 Which type of tax is used to finance the Social Security program in the United States? (A) consumption tax B income tax payroll tax D) property tax

Which of the following taxes has a ceiling? Choose the best answer. Group of answer choices Both Social Security Tax and Unemployment Tax Social Security Tax Unemployment Tax Medicare Tax