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1. Everyone who is self employed must file a tax return?
a. true
b. false

2. students over age 19 receive an extra deduction.
a. true
b. false

3. a tax payer must file a schedule B or scehdule I if his interest income is more than $1,500
a. true
b. false

4. anyone who does not itemize can flie a 1040EZ
a. true
b. false

5. the only time a taxpayer would use a 1040 is if he is required to submit additional forms (such as scehdule A or B) with his tax return.
a. true
b. false

6. an extension allows a taxpayer additional time to file his return and to pay any amount due.
a. true
b. false

7. most taxpayers pay on a fiscal year.
a. true
b. false

8. as long as you have your own home, you can file head of household.
a. true
b. false

9. dividens stock you own are taxable income even if you reinvest them.
a. true
b. false

2006-09-26 15:54:01 · 7 answers · asked by Lizzeth 3 in Business & Finance Taxes United States

7 answers

You are obviously taking a tax test and want us to help you cheat. What are you going to do when you finally get the job and a client comes up and asks you, "Do students over 19 receive an extra deduction?".

What are you going to do, say, "Hold on, let me type it into Yahoo! OK, here we go. Oh, here it is, SkyKid said 'maybe'. LAgirl said 'if ur in school, for sure.' And, CPAdude said 'only if your qualifying Lifetime learning credits exceed your allowable section 143 mortgage subsidy refund.' "

Look up the answers yourself for goodness sake or drop the course and find something you really like to do for a living.

2006-09-26 16:33:38 · answer #1 · answered by TaxMan 5 · 1 0

1. A- as long as you receive income
2. B. false but may qualify for a credit but not a deduction unless over 64 or blind
3. ?
4. ?
5. ?
6. A. True
7. B. Calendar year (Companies use fiscal)
8.B You must have a child who is dependent on you (not necessarily a qualifying child)
9. A Yes, its income

2006-09-26 23:01:15 · answer #2 · answered by fetchrat 3 · 0 0

Assume you mean FEDERAL return (would be different for state & local taxes):
1. Only if you earned $400 or more, so False
2. False
3. True
4. False
5. False
6. False
7. False
8. False
9. True (unless the stock is invested thru a tax deferred plan such as a pension, 401K, etc.).

2006-09-27 16:52:42 · answer #3 · answered by Dee 4 · 0 0

1. Definitely true
2. Not that I know of.
4. True.
6. True
8. False, as long as you are supplying the income for a household, meaning yourself and your dependents, you file as head of household. If it's only yourself, you're still head of your household, as long as no one else can claim you.

2006-09-26 23:04:17 · answer #4 · answered by Becca 6 · 0 0

1) False, if your self-employment income is under $400.00. True, if over.
2) False
3) True
4) False
5) False
6) False. It is an extension to file, not to pay
7) False
8) False
9) True

2006-09-26 23:14:50 · answer #5 · answered by Wayne Z 7 · 0 1

1. false
2. false
3. true
4. true
5. true
6. false
7. false
8. false
9. false

2006-09-27 10:45:46 · answer #6 · answered by Kenshin 5 · 0 0

f,f,t,f,f,f,f,f,t

2006-09-27 09:22:49 · answer #7 · answered by LORD Z 7 · 0 0

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