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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 |