Tax Management Test

Which of the following policies uses taxes as a key tool?

Fiscal policy

Trade Policy

Economic Policy

Monetary policy

Correct! Wrong!

Which of the subsequent interest payments does a taxpayer's total income not include in their deductions?

Interest on a loan taken out to buy the taxpayer's primary home

Interest on a loan taken out to buy equipment that must be obtained for use in the taxpayer's business employment

Interest on a loan taken out to buy stock in an employee-owned business

Interest on a loan taken out to buy common shares in a small business

Correct! Wrong!

Which of the following sources of income doesn't have a specific tax exemption?

Amounts received from individual savings accounts

Any form of reward that a company gives their staff

Earning potential for National Savings Certificates

Legal redundancy pay

Correct! Wrong!

The following items are liable for amusement taxes.

Box office revenue for movie theaters

Professionally played basketball

Gross revenue for the circus

Carnival's overall sales

Correct! Wrong!

Excise taxes include all of the following, with the exception of:

Gasoline Taxes

Property Taxes

Cigarette Taxes

Alcohol Taxes

Correct! Wrong!

The mandated time frame for tax collection is:

5 years after the assessment's publication

If there is no assessment, 10 years after it is discovered that a return was not filed, was false, or was fraudulent.

Both of the above

None of the above

Correct! Wrong!

Indirect taxes include which of the following?

Corporation tax

Inheritance tax

Value added tax

Income tax

Correct! Wrong!

Which of the following policies uses taxes as a key tool?

Which of the subsequent interest payments does a taxpayer's total income not include in their deductions?

Which of the following sources of income doesn't have a specific tax exemption?

The following items are liable for amusement taxes.

Excise taxes include all of the following, with the exception of:

The mandated time frame for tax collection is:

Indirect taxes include which of the following?

Tax Consulting Test 1

Registered Tax Return Preparer Test

Income Tax Knowledge Test

Which of the following policies uses taxes as a key tool?

Which of the subsequent interest payments does a taxpayer's total income not include in their deductions?

Which of the following sources of income doesn't have a specific tax exemption?

The following items are liable for amusement taxes.

Excise taxes include all of the following, with the exception of:

The mandated time frame for tax collection is:

Indirect taxes include which of the following?

Premium Tests $49/moFREE April-2024

Premium Tests $49/mo
FREE April-2024