Tax Quiz: Can You Answer These 6 Important Tax Questions?
As an American, you’re responsible for figuring out your own tax liability and filing a correct return. While you can enlist the help of a professional tax advisor or accountant to help, you’ll still have to know which documents and receipts are important so that you only pay the correct amount of tax. If you choose to file yourself, then you’ll really have to be up on the most important aspects of tax law so that you both report all the income that you’re supposed to and that you also claim all of your applicable deductions.
Test Yourself: Take the Tax Quiz Now!
See: 3 Ways Smart People Save Money When Filing Their Taxes
Of course, understanding how to do your taxes and being intimately familiar with the U.S. Tax Code are two different things. The U.S. Tax Code is an extraordinarily complex document that runs tens of thousands of pages, but most of it isn’t information that the average American taxpayer will need to know to successfully file their taxes.
So, what exactly are the most important things that you should know to properly file your taxes? And what steps can you take during the year — long before tax time — to help minimize your tax liability when tax day rolls around in April? Take this GOBankingRates tax quiz to see if you know the answers to the most important tax questions for the average American.
More From GOBankingRates
- Keep an Eye Out for Rare Dime Worth as Much as $2,000 -- How To Spot It
- What Is the State of Women & Money in 2023?
- Build Your Credit Score with These Simple Strategies
- Financial Insight in Your Inbox: Sign Up for GBR's Daily Newsletter
