Upgrade to remove ads
Busy. Please wait.
Log in with Clever
or

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever
or

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.

Taxes and my salary

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
        Help!  

Question
Answer
Tax   A required payment to the government.  
🗑
FICA   Federal Insurance Contributions Act.  
🗑
Medicare   A social insurance program that extends health coverage to almost all Americans aged 65 and over.  
🗑
Social Security   A federal retirement program in which the working generation contributes to support retired workers, survivors, and the disabled.  
🗑
Net monthly income (NMI)   The amount of pay left after all deductions; taxes, FICA, and medicare are taken out.  
🗑
Gross monthly income (GMI)   the amount of pay per month prior to any deductions being taken out.  
🗑
Gross Annual Income (GAI)   The total amount of pay for a year prior to any deductions.  
🗑
Social Security Number   A number assigned to individuals to keep track of you and your earnings throughout a lifetime.  
🗑
What are the three main types of taxes?   Income tax, sales tax, and property tax.  
🗑
The purpose of taxes are   improve roads, support government, and pay retirement benefits.  
🗑
Net annual income (NAI)   Amount of income remaining to spend in a year after all deductions have been made.  
🗑


   

Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
 
To hide a column, click on the column name.
 
To hide the entire table, click on the "Hide All" button.
 
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
 
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.

 
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how
Created by: Simryla
Popular Finance sets