Cpe Complete Exam

Dependent - CORRECT ANSWER-a qualifying hold or relative, other than the taxpayer or spouse, who entitles the taxpayer to claim a dependency exemption. Interest Income - CORRECT ANSWER-The income a person receives from certain bank accounts or from lending money to someone else. Custom Animation - CORRECT ANSWER-Animation effects that you bing into each individual slide. Slide Transition - CORRECT ANSWER-Movement of each slide onto the screen. Microsoft Powerpoint - CORRECT ANSWER-Presentation software. Payroll Taxes - CORRECT ANSWER-Include Social Security and Medicare taxes. Regressive Tax - CORRECT ANSWER-A tax that takes a larger percentage of retail cost. Sales Tax - CORRECT ANSWER-A tax on retail products based on a set percentage of retail cost. Taxes - CORRECT ANSWER-Required payments of money to governments that are used to provide public goods and services for the benefit of the community as a whole. April 15 - CORRECT ANSWER-The deadline for doing your taxes. Voluntary Compliance - CORRECT ANSWER-A system of compliance that relies on individual citizens to report their income freely and voluntarily, calculate their tax liability correctly, and file a tax return on time. January 31 - CORRECT ANSWER-the date your W-2 form should be issued to you. Dividends - CORRECT ANSWER-A corporation's distributions to its shareholders from its earnings and profits. Electronic Filing - CORRECT ANSWER-The transmission of tax information directly to the IRS using telephones or computers; options include (1) Online self-prepared using a personal computer and tax preparation software, or (2) using a tax professional. May take place at the taxpayer's home, a volunteer site, the library, a financial institutions, the workplace, malls and stores, or a tac professional's place of business.