Monday, February 25, 2008

ch 23.1 Review

1. List five characteristics of a good tax system. Why are these features desirble?- all of this are important=fair tax system,clear tax laws, stable tax system,flexable,and convenient tax collection .
2. How does the amount of money you earn and the amount withheld determine whether you owe income tax? - If you make over or under a certain amount that tells you, you owe them and how much .
3. How will understanding such terms as exemption, dependent, and deduction help you complete a tax return? - following the rules will help you complete the tax return easier.

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