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Income and taxes

QuestionAnswer
4. A price reduction, especially one granted in exchange for used merchandise Allowance
To gather or pile up; amass Accumulated
a. The act of granting certain powers or the authority to carry out a particular task or duty. Commissions
1. The act of deducting; subtraction. 2. An amount that is or may be deducted Deduction
2. Subordinate Dependent
The electronic transfer of a payment directly from the account of the payer to that of the party being paid. Direct Deposit
noun income from wages, salaries, fees, or the like, accruing from labor or services performed by the earner. 7. Earned Income
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 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
on all forms of earnings that make up a taxpayer's taxable income, such as employment earnings or capital gains. 11. Fede Income Taxral
FICA [fahy-kuh, fee-] Show IPA Federal Insurance Contributions Act: U.S. government legislation under which taxes are levied for the support of Social Security. 12. FICA
total revenue received before any deductions or allowances, as for rent, cost of goods sold, taxes, etc. 13. Gross Income
something that comes in as an addition or increase, especially by chance 14. Income
Unearned" Net Investment Income 15. Medicare Tax
net income the excess of revenues and gains of a business over expenses and losses during a given period of time. -------------------------------------------------------------------------------- 16. Net Income
Created by: monmiles
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