Question | Answer |
an amount of something, esp money or food, given or allotted usually at regular intervals | allowance |
Earnings not paid out as dividends but instead reinvested in the core business or used to pay off debt. also called earned surplus or unappropriated profit or retained earnings. | Accumulated Earnings |
A sales commission is a sum of money paid to an employee upon completion of a task, usually selling a certain amount of goods or services. Employers sometimes use sales commissions as incentives to increase worker productivity. | Commissions |
An amount of money that one may subtract from one's gross annual income when calculating one's income tax liability. | Deduction |
An individual for whom another individual is financially responsible. | dependent |
An electronic service in which a payment, especially but not limited to a paycheck, pension, or tax refund, is transferred immediately into the recipient's bank 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 |
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). Various income tax... | federal tax income |
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 |
The Federal government has set forth that employers must make deductions from employees’ paychecks for Social Security and Medicare... | medicare tax |
the excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses). | net income |
The Federal Insurance Contributions Act (FICA) tax is a United States payroll (or employment) tax imposed by the federal government on... | social security tax |
IRS tax forms are used by taxpayers and tax-exempt organizations to report financial | w-2 form |
IRS tax forms are used by taxpayers and tax-exempt organizations to report financial | w-4 form |
1.Refuse to give (something that is due to or is desired by another): "the withholding of consent to treatment". | withholding |