Save
Upgrade to remove ads
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

Unit 4 Taxes & You

TermDefinition
Income Tax tax levied by a government directly on income, especially an annual tax on personal income.
Excise Tax selective taxes on the sale or use of specific goods and services, such as alcohol and gasoline.
Payroll Taxes a tax paid on the wages and salaries of employees to finance social insurance programs like Social Security, Medicare, and unemployment insurance.
1099 represents the growth of organizations using independent contractors to do work.
W-4 the IRS document you complete for your employer to determine how much should be withheld from your paycheck for federal income taxes and sent to the IRS.
Sales Tax a consumption tax imposed by the government on the sale of goods and services.
Regressive Tax one where the average tax burden decreases with income.
Capital Gains the increase in the value of a capital asset when it is sold.
1040 what individual taxpayers use to file their taxes with the IRS
Estate Tax taxes levied on the transfer of property at death.
Deduction an expense that a taxpayer can use to reduce their gross income, thereby reducing the overall taxes they pay.
Progressive Tax one where the average tax burden increases with income
Inheritance Tax taxes levied on the transfer of property at death.
Refund reimbursement for an overpayment of taxes by a government taxing authority.
Tax a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.
Proportional Tax A tax that takes the same percentage of income from all income groups.
W-2 reports how much you earned from your employer as well as how much tax was withheld on your behalf during the tax year.
Property Tax recurrent and non-recurrent taxes on the use, ownership or transfer of property
Credit the ability of an individual or organization to obtain goods or services before payment, based on an agreement to pay later.
W-9 Request for Taxpayer Identification Number and Certification
Created by: user-1760998
Popular Business 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