Income Taxes
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| a sum of money allotted or granted for a particular purpose, as for expenses | Allowance
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| A company's accumulated retained earnings are the cumulative residual profits or losses since the start of its business activities. If it is a positive amount, | Accumulated Earnings
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| the act of committing or giving in charge | Commissions
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| the act or process of deducting; subtraction. | Deduction
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| relying on someone or something else for aid, support, etc. | Dependent
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| a plan in which salaries or other payments are transferred by the paying agency directly to the accounts of the recipients. | Direct Deposit
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| income from wages, salaries, fees, or the like, accruing from labor or services performed by the earner. | Earned Income
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| a person working for another person or a business firm for pay. | Employee
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| a person or thing that makes use of or occupies someone or something: an inadequate employer of one's time | Employer
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| circumstances of a taxpayer, as age or number of dependents, that allow him or her to make certain deductions from taxable income. | Exemptions
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| a tax levied on incomes, especially an annual government tax on personal incomes. | Federal Income Tax
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| Federal Insurance Contributions Act: U.S. government legislation under which taxes are levied for the support of Social Security. | FICA
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| Accounting. total revenue received before any deductions or allowances, as for rent, cost of goods sold, taxes, etc. | Gross Income
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| the monetary payment received for goods or services, or from other sources, as rents or investments. | Income
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| An employee's earnings that are subject to a U.S. payroll tax known as the "Medicare | Medicare Tax
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| the excess of revenues and gains of a business over expenses and losses during a given period of time. | Net Income
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| the tax levied on both employers and employees used to fund the Social Security program. Social Security tax is usually collected in the form of payroll tax or self-employment tax. | Social Security Tax
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| a standard tax form showing the total wages paid to an employee and the taxes withheld during the calendar year: prepared by an employer for each employee. | W-2 Form
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| A form completed by an employee to indicate his or her tax situation (exemptions, status, etc.) to the employer. The W-4 form tells the employer the correct amount of tax to withhold from an employee's paycheck. | W-4 Form
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| to hold back; restrain or check | Withholding
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