Taxes, Tax-related vocabulary 2
Choose the best response to complete each of the sentences below.
1. He is _________________ ( = considered) to be self-employed.
2. You can give _________________ $13,000 yearly without having to pay the "gift tax".
3. Your "_________________ income" refers to all your income from taxable sources, before any exemptions, deductions, etc.
4. You will have to pay a 10% penalty. = a 10% penalty will be _________________.
5. To deduct = To _________________
6. The amount of your income credit depends __________________ your income level.
7. Yes, you would be __________________ to make this deduction.
( = you can make this deduction legally)
8. The fastest way to file your tax return is __________________.
9. You cannot __________________ ( = take) a deduction for contributions to a traditional IRA.
10. This limit can be carried _________________ to future years. ( = can be used in future tax returns)
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