| 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. |
Cardio Block2anatomy
