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Income &Taxes

Answer
an amount allowed or granted (as during a given period); 1. Allowance
An accounting term applicable to stockholders of closely held businesses. Accumulated earnings and profits are a company's net profits after deducting distributions to the stockholders. 2. Accumulated Earnings
A service charge assessed by a broker or investment advisor in return for providing investment advice and/or handling the purchase or sale of a security 3. Commissions
An amount that is or may be deducted 4. Deduction
relying on someone or something else for aid, support, etc. 5. Dependent
a plan in which salaries or other payments are transferred by the paying agency directly to the accounts of the recipients. 6. Direct Deposit
income from wages, salaries, fees, or the like, accruing from labor or services performed by the earner. 7. Earned Income
a person working for another person or a business firm for pay. 8. Employee
a person or business that employs one or more people, especially for wages or salary: a fair employer. 9. Employer
the circumstances of a taxpayer, as age or number of dependents, that allow him or her to make certain deductions from taxable income 10. Exemptions
Definition of 'Federal Income Tax' A tax levied by the United States Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts . 11. Federal Income Tax
Federal Insurance Contributions Act 12. FICA
An employment benefit given in addition to one's wages or salary. 13. Fringe Benefits
Economic wealth that is generated in exchange for an individual's performance of agreed upon activities or through investing capital. 14. Income
The Federal government has set forth that employers must make deductions from employees’ paychecks for Social Security and Medicare... 15. Medicare Tax
the excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses). 16. Net Income
The Federal Insurance Contributions Act (FICA) tax is a United States payroll (or employment) tax imposed by the federal government 17. Social Security Tax
Wage and Tax Statement. The form used to report wages, tips, other compensation, withheld income and social security taxes 18. W-2 Form
IRS tax forms are used by taxpayers and tax-exempt organizations to report financial information to the Internal Revenue Service 19. W-4Form
1.Refuse to give (something that is due to or is desired by another): "the withholding of consent to treatment". 20.Withholding
Created by: dallen11
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