Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Taxes Vocabulary

TermDefinition
Income Tax a tax on the net income of an individual or a business
Progressive Tax based on the taxpayer's ability to pay
Regressive Tax a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases.
1040 Form is an IRS tax form used for personal federal income tax returns filed by the United States residents.
Adjusted Gross Income is your gross income minus certain adjustments
W2 Form shows important information about the income you've earned from your employer, amount of taxes withheld from your paycheck, benefits provided and other information for the year.
Deduction an amount that is or may be deducted from something, especially from taxable income or tax to be paid.
Standard Deduction a portion of income that is not subject to tax and can be used to reduce a tax bill instead of itemizing deductions.
Direct Deposit the electronic transfer of a payment directly from the account of the payer to the recipient's account.
Filing Status a category that defines the type of tax return form a taxpayer must use when filing their taxes.
FICA U.S payroll tax deducted to fund the Social Security and Medicare programs.
Witholdings a deduction (as from wages, fees, or dividends) levied at a source of income as advance payment on income tax
Internal Revenue Service Treasury Department agency charged with administering and enforcing federal tax laws, except those relating to alcohol, tobacco, firearms, and explosives.
Taxable Income the total amount of income remaining as the basis of taxation for a given period after all allowable deductions have been applied to gross income
Tax Credit an amount of money that is subtracted from taxes owed
Created by: nidhi.patel
Popular Finance sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards