Top 5
Basic Tax Questions Americans Can't Answer
1. Is the money you put in a Roth IRA pre-tax or post-tax?
A) Pre-tax B) Post-tax C) None of the above Answer: Roth contributions are never...
2. A 529 plan is:
A) A way to make tax-deductible contributions for college savings B) A college...
3. What is a flexible spending account?
A) A tax-exempt savings account exclusively for health benefits B) A tax-exempt savings...
4. If you foster a pet from a nonprofit charitable organization, can you claim a tax deduction?
A) Yes, but you can only write off certain items like food, shelter and medical...
5. If you lend money to a friend and she doesn’t pay you back, can you write it off?
A) Yes, you can write off the entire loan. B) Under certain circumstances, it can be...
 
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