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Income and Taxes
| Question | Answer |
|---|---|
| An amount or share alloteed or granted. | Allowance |
| are a companys net profits after deducting distributions to the stockholders. | Accumulated Earnings |
| A service charge assessed by a broker or investment advisor in return for providing. | Commissions |
| Any item or expenditure subtracted from gross income to reduce the amount of income. | Deduction |
| An individual whom a taxpayer can claim for credits and/or exemptions. | Dependent |
| Electronic funds that are deposited directly into your bank account rather than through a paper check. | Direct Deposit |
| Income derived from active participation in a trade or business, including wages, salary, tips, commissions and bonuses. | Earned Income |
| A person employed for wages or salary, esp. a nonexecutive. | Employee |
| 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 (corporations or other legal entities). | Federal Income Tax |
| U.S. law requiring a deduction from paychecks and income that goes toward the Social Security program and Medicare. | FICA |
| Gross income in United States tax law is receipts and gains from all sources less cost of goods sold. | Gross Income |
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DatAss
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