Which of the Following Are Legal Methods of Reducing Your

question 26

Multiple Choice

Which of the following are legal methods of reducing your current tax liability?

• A)not reporting taxable income you receive
• B)investing in a tax deferred annuity
• C)shifting income to your children
• D)writing off deductions above the actual amount(s) spent
• E)b and c

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Definitions:

NAACP-Funded Legal Challenge

Legal cases and initiatives financially supported by the National Association for the Advancement of Colored People, aiming to fight racial discrimination and advance civil rights.

Segregation

The enforced separation of different racial or socio-economic groups within a community, institution, or country, often resulting in inequality and discrimination.

Civil Rights Movement

A decades-long struggle, particularly during the 1950s and 1960s, aiming to end racial discrimination and gain equal rights under the law for African Americans.

Cold War

The state of political and military tension after World War II between powers in the Western Bloc, led by the United States, and powers in the Eastern Bloc, led by the Soviet Union.