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

T-EPF M3L3 Key Terms

Traditional EPF Module 3 Lesson 3 Key Terms

TermDefinition
Payroll Tax Percentage of money withheld from your paycheck by your employer who then pays it the government for you. In the US, this is FICA.
FICA Federal Insurance Contributions Act which includes payroll taxes for Medicare and Social Security.
Social Security An insurance program. Workers pay into the program for at least 10 years or more and can collect money once they turn 62. If they wait until age 70 to collect, they will receive more benefits.
Medicare A federal health insurance program for Americans 65 years or older and some people with disabilities.
Progressive Tax System People that make more money (or who have higher taxable incomes) pay more federal income taxes. People who have less taxable income, pay less federal income taxes.
Taxable Income Determined by the amount of income remaining after deductions.
Deductions Reductions to your income in terms of how it counts for taxes.
Tax Brackets Ranges of income taxed at different rates. Your tax bracket depends if you are married and filing your taxes together or jointly, married and filing separately, the head of the household, or if you are single.
Capital Gains Tax A tax on the growth in the value of investments. Taxes are paid when the assets are sold.
Estate Tax Taxes that are paid on the inheritance of assets following the death of an individual. Not all states have estate taxes.
Property Taxes Taxes paid on property owned.
Sales Tax Taxes on the sale of goods and services.
Excise Tax Taxes that are put on specific goods, services, and activities such as coal, fuel, sports wagering, and indoor tanning.
1040 Form What individual taxpayers use to file their taxes with the IRS. Helps individuals determine if they owe taxes or if they will get a tax refund.
1099 Form This is to report information on the income you receive outside of your typical salary, for example with contract work.
W-2 Form The document that your employer sends to you and the IRS at the end of the year that reports your wages and amount of taxes withheld from your paycheck.
W-4 Form Form that informs your employer of your tax situation and informs them how much tax to withhold from your paycheck based on your marital status and other deductions.
W-9 Form This form confirms a person’s name, address, and taxpayer identification number (TIN) for employment or income purposes.
I-9 Form Verification of identity and legal authorization to work.
Created by: dmcsorley13
Popular Social Studies 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