TAXES TEST (2025) QUESTIONS AND
ANSWERS
Withholding---ans-✔✔A-portion-of-an-employee's-wages-deducted-for-taxes-that-an-
employer-sends-to-the-government-as-partial-pay.
Ex:-federal-income-tax-withholding-is-deducted-from-paycheck
FICA---ans-✔✔Federal-Insurance-Contributions-Act;-tax-withholding-on-both-employers-
and-employees-to-pay-for-Social-Security-and-Medicare
Pre-tax-deductions---ans-✔✔Employee-deductions-that-are-not-subject-to-income-tax.-
The-deductions-include:-
medical-insurance-and-401(k)-contributions.
Post-Tax-Deductions---ans-✔✔taken-out-after-taxes-and-have-no-effect-on-your
taxable-income-(usually-voluntary-deductions)
When-can-you-start-Filing-a-Tax-Return?---ans-✔✔Opens-Jan.-23-29.-
Deadline:-April-15-or-Extended-to:-October-15.
You-can-file-it-as-soon-as-you-receive-all-forms.-(W-2,-1099,-etc.)
How-to-file-a-Tax-Return.-(Pros-and-Cons)---ans-✔✔1.-Digitally-(ex:-Turbo-Tax,-H&R-
Block,-FreeTaxUSA.)
P--It-gets-done-Quicker.
C--Older-people-may-not-know-how-to-use-it-to-file-their-taxes.
2.-Hire-a-Tax-Preparer
P--professional-and-knows-what-they're-doing.
C--they-might-help-your-money-to-benefit-them-instead-of-you-if-you-aren't-familiar-with-
filing-taxes.
3.-Paper-Filing-(Ex:-Mailing-to-yourself-and-sending-it-back)
P--You-do-it-yourself-and-you-don't-rely-on-others-while-saving-money.
C--Takes-longer-to-receive-tax-and-you-have-to-mail-it.
ANSWERS
Withholding---ans-✔✔A-portion-of-an-employee's-wages-deducted-for-taxes-that-an-
employer-sends-to-the-government-as-partial-pay.
Ex:-federal-income-tax-withholding-is-deducted-from-paycheck
FICA---ans-✔✔Federal-Insurance-Contributions-Act;-tax-withholding-on-both-employers-
and-employees-to-pay-for-Social-Security-and-Medicare
Pre-tax-deductions---ans-✔✔Employee-deductions-that-are-not-subject-to-income-tax.-
The-deductions-include:-
medical-insurance-and-401(k)-contributions.
Post-Tax-Deductions---ans-✔✔taken-out-after-taxes-and-have-no-effect-on-your
taxable-income-(usually-voluntary-deductions)
When-can-you-start-Filing-a-Tax-Return?---ans-✔✔Opens-Jan.-23-29.-
Deadline:-April-15-or-Extended-to:-October-15.
You-can-file-it-as-soon-as-you-receive-all-forms.-(W-2,-1099,-etc.)
How-to-file-a-Tax-Return.-(Pros-and-Cons)---ans-✔✔1.-Digitally-(ex:-Turbo-Tax,-H&R-
Block,-FreeTaxUSA.)
P--It-gets-done-Quicker.
C--Older-people-may-not-know-how-to-use-it-to-file-their-taxes.
2.-Hire-a-Tax-Preparer
P--professional-and-knows-what-they're-doing.
C--they-might-help-your-money-to-benefit-them-instead-of-you-if-you-aren't-familiar-with-
filing-taxes.
3.-Paper-Filing-(Ex:-Mailing-to-yourself-and-sending-it-back)
P--You-do-it-yourself-and-you-don't-rely-on-others-while-saving-money.
C--Takes-longer-to-receive-tax-and-you-have-to-mail-it.
