What’s your tax bracket?
It’s actually a bit more complicated than it sounds. Sure enough, 39 percent of people in a recent survey answered that question with one of their own: Huh? Seven percent of respondents didn’t know what a tax bracket was. That’s according to a NerdWallet survey of 1,800 U.S. taxpayers conducted by Harris Poll.
Confusion also reigns over the purpose of a W-4, the cutoff date for making a tax-deductible contribution to an IRA (that’s an individual retirement account—but you knew that 1 ), and whether you have to pay tax on time if you get a filing extension from the IRS (the Internal … oh never mind).
Try your hand at this little quiz. If you get six or seven of the eight right, you are, compared with the nation as a whole, a god. If you get all eight right, that’s just suspicious.
Take the 8 Question Quiz on Bloomberg here: http://bloom.bg/2l4c8hW