Chapter 12 Section 1 Income Tax Fundamentals
Taxes and You
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Effective Tax Planning
Tax Liability -
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Types of Taxes
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Taxes on Purchases
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Taxes on Property
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Taxes on Wealth
Estate Tax –
Inheritance Tax –
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Taxes on Earnings
Income Tax -
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Understanding Income Taxes
Income Tax Return -
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Gross and Adjusted Gross Income
Exclusion –
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Adjusted Gross Income
Adjusted Gross Income –
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Your Taxable Income
Taxable Income –
Tax Deductions
Tax Deduction –
Itemized Deduction –
Standard Deduction –
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Exemptions
Exemptions –
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Calculating Your Tax
Tax Credit –
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Making Tax Payments
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Payroll Withholding
Allowance –
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Estimated Payments
Claiming Allowances
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Chapter 12 Section 2 Preparing an Income Tax Return
The W-2 Form
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Understanding the Federal Income Tax Return
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Who Must File
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Filing Status Categories
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Deadlines and Penalties
Extension –
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Choosing a Tax Form
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Form 1040EZ
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Completing the Federal Income Tax Return
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Gathering Information & Documents
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Completing the Form 1040EZ
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Completing the Form 1040A
Filing Your Federal Income Tax Return
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Completing State Income Tax Returns
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Chapter 12 Section 3 Tax Assistance and Strategies
Tax Assistance
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Tax Audits
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Planning Tax Strategies
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Consumer Purchasing Strategies
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Investment Decisions
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Retirement Plans
Changing Your Tax Strategy