According to Mager If You Do Not Know Where You

question 9

Multiple Choice

According to Mager if you do not know where you are going:

• A) You might wind up somewhere else and not even know it
• B) You should wind up where you want to be
• C) You might accomplish a more important objective
• D) You cannot know when you get where you want to be

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Definitions:

Standard Deduction

A fixed dollar amount deducted from an individual's taxable income, reducing the amount of income subject to federal income tax, which varies by filing status and is adjusted annually.

Personal Exemption

A deduction allowed by the IRS from taxable income for the taxpayer and each qualified dependent, diminishing until eliminated in tax year 2018 under the Tax Cuts and Jobs Act.

AGI

Adjusted Gross Income; an individual's total gross income minus specific deductions, used to determine taxable income.

Dependent

An individual, typically a child or family member, whose maintenance and support can be claimed as a deduction by another, usually for tax purposes.