Taxes bootcamp exam
Brackets, deductions, gains and records, explained plainly. This exam mixes questions from every lesson in the track. Each explanation links to the lesson it came from.
- Read tax brackets one layer at a time
1. Moving into a higher bracket means…
- Read tax brackets one layer at a time
2. Effective rate equals…
- Tell a tax credit from a tax deduction
3. A tax credit reduces…
- Tell a tax credit from a tax deduction
4. A $2,000 deduction at a 12% marginal rate saves about…
- Compare the standard deduction with itemizing
5. You should usually…
- Compare the standard deduction with itemizing
6. From 2026, non-itemisers can deduct cash charity gifts up to…
- Check sales tax before the receipt surprises you
7. Why is the total higher than the tag?
- Check sales tax before the receipt surprises you
8. Are online purchases tax-free?
- Keep the receipt records that matter at tax time
9. Most everyday personal receipts…
- Keep the receipt records that matter at tax time
10. Who should treat almost every business receipt as a tax record?
- Understand why holding time changes capital gains taxes
11. Long-term means held…
- Understand why holding time changes capital gains taxes
12. Short-term gains are taxed at…
- Understand tax-loss harvesting and the wash-sale rule
13. The wash-sale window covers…
- Understand tax-loss harvesting and the wash-sale rule
14. Tax-loss harvesting applies in…
- Plan for taxes as a W-2 employee or 1099 contractor
15. Who usually has taxes withheld from pay?
- Plan for taxes as a W-2 employee or 1099 contractor
16. Self-employment tax rate on net earnings is…
- Keep charitable giving records and understand the tax rules
17. From 2026, the non-itemiser charity deduction applies to…
- Keep charitable giving records and understand the tax rules
18. A donor-advised fund lets you…
- Know when your taxes need a professional
19. Which situation most suggests hiring a professional?
- Know when your taxes need a professional
20. Every paid preparer must have…
Lesson tests in this bootcamp
- Read tax brackets one layer at a time
- Tell a tax credit from a tax deduction
- Compare the standard deduction with itemizing
- Check sales tax before the receipt surprises you
- Keep the receipt records that matter at tax time
- Understand why holding time changes capital gains taxes
- Understand tax-loss harvesting and the wash-sale rule
- Plan for taxes as a W-2 employee or 1099 contractor
- Keep charitable giving records and understand the tax rules
- Know when your taxes need a professional