Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
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
Normal Size Small Size show me how
income and taxes
| Question | Answer |
|---|---|
| an amount or share allotted or granted | Allowance |
| to gather or collect, often in gradual degrees; heap up: to accumulate wealth. | Accumulated |
| wages; profits. | Earnings |
| an authoritative order, charge, or direction | Commissions |
| something that is or may be deducted: She took deductions for a home office and other business expenses from her taxes. | Deduction |
| plan in which salaries or other payments are transferred by the paying agency directly to the accounts of the recipients. | Direct Deposit |
| income from wages, salaries, fees, or the like, accruing from labor or services performed by the earner | Earned Income |
| noun a person working for another person or a business firm for pay. | Employee |
| a person or thing that makes use of or occupies someone or something: an inadequate employer of one's time. | Employer |
| the act of exempting. | Exemptions |
| An income tax is a tax levied on the income of individuals or businesses (corporations or other legal entities). Various income tax... | Federal Income Tax |
| Federal Insurance Contributions Act: U.S. government legislation under which taxes are levied for the support of Social Security. | FICA |
| Accounting. total revenue received before any deductions or allowances, as for rent, cost of goods sold, taxes, etc. | Gross Income |
| something that comes in as an addition or increase, especially by chance. | Income |
| Medicare taxes are imposed at a flat tax rate of 2.9% on wages, salaries, and business or farming income earned by self-employed individuals | medicare Tax |
| the excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses) | Net Income |
| The Federal Insurance Contributions Act (FICA) tax is a United States payroll (or employment) tax imposed by the federal government on... | Social Security Tax |
| standard tax form showing the total wages paid to an employee and the taxes withheld during the calendar year: prepared by an employer for each employee. | W-2 Form |
| so that your employer can withhold the correct federal income tax from your pay. | W-4 Form |
| to refrain from giving or granting: to withhold payment | Withholding |
Created by:
krucinski
Popular Finance sets