Weegy: The main purpose of taxes is to: generate revenue for funding government programs.
User: Which type of tax is imposed on specific goods and services at the time of purchase?
Question 12 options:
Estate
Excise
General sales
Value-added
Weegy: Excise tax is imposed on specific goods and services at the time of purchase.
User: Tax-deferred retirement plans are a type of:
Question 13 options:
exemption.
itemized deduction.
passive income.
tax shelter.
Weegy: Tax-deferred retirement plans are a type of tax shelter.
User: An expense that would be included in the itemized deductions of a taxpayer is:
Question 14 options:
travel to work.
life insurance premiums.
real estate property taxes.
a driver's license fee.
Weegy: An expense that would be included in the itemized deductions of a taxpayer is: real estate property taxes.
User: A deduction from adjusted gross income for yourself, your spouse, and qualified dependents is:
Question 15 options:
the standard deduction.
a tax credit.
an itemized deduction.
an exemption.
Weegy: A deduction from adjusted gross income for yourself, your spouse, and qualified dependents is an exemption.
User: Parents can reduce their taxes by:
Question 16 options:
filing a joint return.
decreasing the number of exemptions claim.
using a child-care tax credit.
ignoring the standard deduction
Weegy: Parents can reduce their taxes by: using a child-care tax credit.
User: Most people pay federal income tax by:
Question 17 options:
paying the total amount owed by April 15.
filing quarterly tax payments.
having amounts withheld from income.
earning tax credits for various deductions.
Weegy: Most people pay federal income tax by HAVING AMOUNTS WITHHELD FROM INCOME.
User: Which form would an individual use who has less than $50,000 in taxable income from wages, salaries, tips, unemployment compensation, interest, or dividends, and who is married and does not itemize deductions?
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