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Incoming Taxes

QuestionAnswer
The act of allowing. Allowance
The act of gathering or amassing, as into a heap or pile. Accumulation
a. The act of granting certain powers or the authority to carry out a particular task or duty. Commisions
The act of deducting; subtraction Deduction
Relying on someone or something else for aid, support, etc 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
The process of freeing or state of being free from an obligation or liability imposed on others. Exemption
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 FICA
Gross income in United States tax law is receipts and gains from all sources less cost of goods sold. Gross income is the starting point. Gross Income
Money received, esp. on a regular basis, for work or through investments. Income
A federal system of health insurance for people over 65 years of age and for certain younger people with disabilities. Medicare
the excess of revenues over outlays in a given period of time. Net Income
Tax imposed by the federal government on. Social Security Tax
The W-2 form reports an employee's annual wages and the amount of taxes withheld from his or her paycheck. W-2 Form
The W-4 form tells the employer the correct amount of tax to withhold from an employee's paycheck. W-4 Form
Refuse to give. Witholding
Created by: cystalwalsh
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