Question
Which of the following is not a goal of the income tax system? a. All of the above are goals of the income tax system
Which of the following is not a goal of the income tax system?
a. | All of the above are goals of the income tax system | |
b. | Raising revenues to operate government | |
c. | Providing incentives for certain business and economic goals, such as higher employment rates, through business-favorable tax provisions | |
d. | Providing incentives for certain social goals, such as charitable giving, by allowing tax deductions, exclusions, or credits for selected activities |
Which of the following taxpayers are required to file a return in 2020.
a. | None of the above | |
b. | Juan a taxpayer of 45 years old, single with income of $12,300 | |
c. | Jose is a college student with a salary from part-time job of $6,500. He is claimed as dependent by her parents | |
d. | Frank (67 age) and Ann (64) married, have an income of $25,000 and file a joint return |
A taxpayer who is self-employment must be file tax return if their net earnings are:
a. | $24,400 | |
b. | $400 | |
c. | $100 | |
d. | $12,200 |
Andrea is a single taxpayers for the year 2019, she has a standard deduction of:
a. | $18,350 | |
b. | $6,100 | |
c. | $12,400 | |
d. | $12,150 |
Robert age 69, and Diana age 67 and blind, are married and filing as married filing jointly. Their standard deduction for year 2019 is:
a. | $27,700 | |
b. | $24,800 | |
c. | $28,700 | |
d. | $27,400 |
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