Exam (elaborations)
W!SE Financial Literacy Certification Top Common Tested Questions And Correct Answers
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Earned Income Income derived from active participation in a trade or business, including wages, salary, tips, commissions and bonuses. Unearned Income Any income that comes from investments and other sources unrelated to employment services. Examples: interest from a savings account, bond interest, alimony, and dividends from stock Exemptions (aka allowance) and how they work If you are not claimed as a dependent on another taxpayer's return, then you can claim one personal tax exemption. The exemption reduces your taxable income just like a deduction does, but has fewer restrictions to claiming it. If you are married and file a joint tax return, both you and your spouse each get an exemption.
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Institution
W!SE Financial Literacy
Course
W!SE Financial Literacy
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Written for
- Institution
- W!SE Financial Literacy
- Course
- W!SE Financial Literacy
Document information
- Uploaded on
- March 13, 2024
- Number of pages
- 15
- Written in
- 2023/2024
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- Exam (elaborations)
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- Questions & answers
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- wse financial literacy
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wse financial literacy certification top common t
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