Income and Taxes
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| 2.A sum of money paid regularly to a person, typically to meet specified needs or expenses | Allowance
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| An accounting term applicable to stockholders of closely held busininess | Accumulated Earnings
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| An amount of money, typically a set percentage of the value involved, paid to an agent in a commercial transaction | Commissions
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| the dividend will be paid without deduction of tax | Deduction
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| 5. - the various benefits will be dependent on length of service the various benefits will be dependent on length of service | Dependent
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| 1.The electronic transfer of a payment directly from the account of the payer to the recipient's account | Direct Deposit
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| Money derived from paid work | Earned Income
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| .A person employed for wages or salary, esp. at nonexecutive level | Employee
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| A person or organization that employs people | Employer
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| 2.The process of exempting a person from paying taxes on a specified amount of income for themselves and their dependents | Exemptions
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| Federal Insurance Contributions Act | FICA
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| Total income before taxes or expenses are deducted | Gross Income
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| 1.Money received, esp. on a regular basis, for work or through investments | Income
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| The Federal government has set forth that employers must make deductions from employees’ paychecks for Social Security and Medicare taxes - known as FICA (Federal Insurance Contributions Act). | Medicare Tax
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| the excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses | Net Income
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| tax used to fund a program of the US government that gives money to elderly people. | Social Security Tax
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| A tax form that you get from your employer that reports your wages earned for the year, state and federal taxes withheld. | W-2 Form
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| IRS tax forms are used by taxpayers and tax-exempt organizations to report financial information to the Internal Revenue Service (IRS)... | W-4 Form
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| Refuse to give (something that is due to or is desired by another): "the withholding of consent to treatment". | Withholding
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