1A) Your filing status is single. Based only on the information in Table 6.1,

(Round your answer to the nearest dollar, if necessary)

If your taxable income is $140,000, what would your federal income tax obligation be?

If your taxable income is $70,000, what would your federal income tax obligation be?

If your federal income tax obligation is $50,000, what was your taxable income?

1B) Which of these are sources of income that would be taxed when income tax is calculated? Check all that apply.

• Lakehouse rental

• Stock dividends

• Lottery winnings

• Alimony

• Wedding gift of new china

• Gift card of $50

• Book royalties

1C) In the United States, taxes are assessed by which of these entities? Check all that apply.

• Diocese

• Chamber of Commerce

• Federal government

• Mayor's Office

• State government

• Municipal government

1D) When working on your own personal finances, the _____ is the most critical to account for in your financial planning.

• estate tax

• VAT tax

• income tax

• sales tax