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income and taxes
| Question | Answer |
|---|---|
| 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. | Commissions |
| 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. A person employed for wages or salary, esp. a nonexecutive. A person employed for wages or salary, esp. a nonexecutive. | Employee |
| A person or organization that employs people. A person or organization that employs people. | Employer |
| 1.The process of freeing or state of being free from an obligation or liability imposed on others. | Exemptions |
| An income tax is a tax levied on the income of individuals or businesses | Federal Income Tax |
| Federal Insurance Contributions Act | FICA |
| An extra benefit supplementing an employee's salary. | Fringe Benefits |
| Gross income in United States tax law is receipts and gains from all sources less cost of goods sold. | Gross Income |
| Money received, esp. on a regular basis, for work or through investments Money received, esp. on a regular basis, for work or through investments. Money received, esp. on a regular basis, for work or through investments. | Income |
| The tax withheld from employee wages to pay for Medicare benefits. | Medicare Tax |
| the excess of revenues over outlays in a given period of time | Net Income |
| a system in which employees receive a share of the net profits of the business. | Profit Sharing |
| A fixed regular payment | Salary |
| The tax levied on both employers and employees used to fund the Social Security program. | Social Security Tax |
| a reduction in the gross amount on which a tax is calculated | Tax Deduction |
| 3.A sum of money given to someone as a way of rewarding them for their services. | Tips |
| Wage and Tax Statement | W-2 Form |
| Form known as the Employee's Withholding Allowance Certificate. | W-4 Form |
| A fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee | Wages |
| Reduces the amount of wages subject to federal income tax withholding based on exemptions and deductions | Withholding Allowance |
Created by:
jackiee_
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