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income and taxes

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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question
answer
amount of pay earned before taxes   net pay  
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the amount that is allowed or granted   Allowance  
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a company's net profits after deducting distributions to the stockholders   acumulated earnings  
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service charge assessed by a broker   commisions  
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the amount of cash that may be taken away   Deduction  
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depending on a person or thing for aid, support, life,   dependent  
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The electronic transfer of a payment directly from the account of the payer to that of the party being paid.   direct deposit  
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income derived from paid employment and comprising mainly wages and salaries   Earned Income  
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A person who works for another in return for financial or other compensation   employee  
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to engage people in the servises of work   employer  
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The act or an instance of exempting   exemptions  
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A tax levied on net personal or business income.   federal income tax  
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Federal Insurance Contributions Act   FICA  
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The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as profit from financial investments.   income  
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Tax deducted from the wages of every legally working American that is used to pay for the Medicare program provided to individuals over the age of 65   medicare tax  
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a tax that goes to A government program that provides economic assistance to persons faced with unemployment   social security tax  
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United States federal tax form issued by employers and stating how much an employee was paid in a year   w-2 form  
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A form that employees fill out when starting a job in the United States   w-4 form  
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Used in the context of securities, the illegal practice of a public offering participant keeping some shares in a private account or with a family member, employee, or dealer to profit from the higher market price of a hot issue.   withholding  
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amount of pay earned before taxes   gross income  
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Created by: CarolAnnFALLO
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