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Income And Taxes

QuestionAnswer
AllowanceA sum of money paid regularly to a person Allowance
an accounting term that is applied to stockholders of closely held businesses Accumulated Earnings
a fee paid based on a percentage of the sale made by an employee or agent, as distinguished from regular payments of wages or salary Commissions
An amount that is or may be deducted from something, esp. from taxable income or tax to be paid Deduction
A person who relies on another, esp. a family member, for financial support 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, esp. a nonexecutive Employee
A person or organization that employs people Employer
Exemptions
Federal Income Tax
FICA
Gross Income
Income
Medicare Tax
Net Income
Social Security Tax
W-2 Form
Created by: Jpeay13