VB Personal Finance Paying Your Taxes (Math Quizzes)

QUESTION 1 of 5: You are offered a choice between paying a flat tax (one rate on all income) of 20% on $44,000 of income and paying a graduated tax of the following schedule on the same income. Schedule: 10% on the first $25,000; 30% on your income over $25,000. Which is better for you? b) The graduated tax
QUESTION 2 of 5: You earn $22,000. The tax table says you owe $3,456 in taxes. During the year, your tax withholdings were $5,333. What is your refund? d) $1,877
QUESTION 3 of 5: You earned $34,000 and your total tax due was $6,200. What was your average tax rate? c) 18%
QUESTION 4 of 5: You discovered you can deduct medical expenses over 6% of your income. Your income is $42,000, and you had medical expenses of $567. What portion of your medical expenses can you deduct? a) $0
QUESTION 5 of 5: Tax rates are 10% on the first $10,000 you earn and 20% on amounts over that. You earn $15,000. What is your tax? a) $2,000

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