Save
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.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
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

Income and Taxes

an amount of a person's income that is not subject to a particular tax and is therefore deducted before his or her liability to taxation is assessed allowance
Earnings not paid out as dividends but instead reinvested in the core business or used to pay off debt Accumulated Earnings
paid entirely or partially with commissions from sales one has made or for work one has done Commissions
The action of deducting or subtracting something Deduction
A person who relies on another Dependent
The electronic transfer of a payment directly from the account of the payer to the recipient's account Direct Deposit
Money derived from paid work. Earned Income
A person employed for wages or salary Employee
A person or organization that employs people Employer
The process of exempting a person from paying taxes on a specified amount of income for themselves and their dependents Exemptions
An income tax is a tax levied on the income of individuals or businesses Federal Income Tax
Federal Insurance Contributions Act FICA
An individual's total personal income before taking taxes or deductions into account Gross Income
Money received on a regular basis, for work or through investments Income
The Federal government has set forth that employers must make deductions from employees’ paychecks for Social Security and Medicare Medicare Tax
An individual's total personal income AFTER taking taxes or deductions into account Net Income
tax levied on both employers and employees used to fund the Social Security program Social Security Tax
The form used to report wages, tips, other compensation W-2 Form
IRS tax forms are used by taxpayers and tax-exempt organizations to report financial information to the Internal Revenue Service W-4 Form
A portion of an employee's wages or salary withheldby the employer as partial payment of the employee's income tax Withholding
Created by: abaker124
Popular Finance sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards