What major federal income tax features affect all taxpayers.

2. What are the other taxes that this chapter talks about that you need to pay?

3. What is taxable income, and how are taxes determined?

4. Explain the concept of capital gains.

5. Summarize how you would begin to calculate your gross or total income. (I want to see a detailed summary)

6. What are the different ways that one can file their taxes?

7. What happens if you are audited?   What is an audit?

8. Explain at-least two tax strategies to lower your taxes. (Be specific)

9. Why does one need and understand liquid assets?

10. What is cash management all about?

11. Paying yourself first is about what? Why is this so important to your financial health?

12. According to this chapter #5, what are some cash management alternatives for you?

13. List out all the cash management alternatives you found in question #12 and tell me an advantage and a disadvantage of each.

14. How does one establish and use a checking account?

15. What does one look at in choosing a financial Institution?

16. What is efts?

17. List out all the different types of checks discussed in chapter #5.

18. What is a debit card versus a credit card?

19. What are smart cards?

20. Why is it important to balance your checking account often?