Income and Taxes
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| an addition or deduction based on an extenuating or qualifying circumstance | Allowance
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| A tax imposed by the federal government upon companies with retained earnings deemed to be unreasonable and in excess of what is considered ordinary | Accumulated Earnings
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| The payment of commission as remuneration for services rendered or products sold is a common way to reward sales people | Commissions
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| An amount that is or may be deducted | Deduction
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| Relying on or requiring the aid of another for support | Dependent
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| banking that describes a deposit of money straight from the source into a bank account | Direct Deposit
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| a tax credit for certain people who work and have earned income | Earned Income
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| A person who works for another in return for financial or other compensation | Employee
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| An employer is a person or institution that hires employees or workers | Employer
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| Various tax systems grant a tax exemption to certain organizations, persons, income, property or other items taxable under the system | Exemptions
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| A rate schedule is a chart that helps United States taxpayers determine their federal income tax burden for a particular year | Federal Income Tax
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| tax is a United States Federal payroll (or employment) tax imposed on both employees and employers to fund | FICA
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| An individual's total personal income before taking taxes or deductions into account | Gross Income
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| consumption and savings opportunity gained by an entity within a specified timeframe, that is generally expressed in monetary terms | Income
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| Tax rates for each Social Security trust fund New healthcare taxes in 2013, may impact high-income investors and earners | Medicare Tax
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| Net income is a company's earnings or profit as reported on the income statement. Revenue minus all expenses gives you net income. | Net Income
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| The Social Security tax functions very much like a flat tax | Social Security Tax
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| Form W-2, Wage and Tax Statement. Every employer engaged in a trade or business who pays remuneration for services | W-2 Form
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| Form W-4 includes detailed worksheets to help the employee figure his or her correct number of withholding allowances | W-4 Form
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| Withholding tax, also called retention tax, is a government requirement for the payer of an item of income to withhold or deduct tax from the payment, | Withholding
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