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.
Help!
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| A sum of money paid regularly to a person, typically to meet specified needs or expenses. | Allowance
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| Earnings not paid out as dividends but instead reinvested in the core business or used to pay off debt | Accumulated Earnings
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| Give an order for or authorize the production of | Commissions
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| An amount that is or may be deducted from something, esp. from taxable income or tax to be paid. | Deduction
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| A person who relies on another, esp. a family member, for financial support. | Dependent
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| 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, | Employee
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| A person or organization that employs people,Boss | Employer
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| 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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| An income tax is a tax levied on the income of individuals or businesses. | Federal Income Tax
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| Federal Insurance Contributions Act. | FICA
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| Gross income in United States tax law is receipts and gains from all sources less cost of goods sold. | Gross Income
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| revenue - earnings - proceeds - profit - yield - gainings | Income
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| The Federal government has set forth that employers must make deductions from employees’ paychecks for Social Security and Medicare | Medicare Tax
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| the excess of revenues over outlays in a given period of time | Net Income
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| The Federal Insurance Contributions Act (FICA) tax is a United States payroll | Social Security Tax
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| Wage and Tax Statement. The form used to report wages, tips, other compensation, withheld income and social security taxes | W-2 Form
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| 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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| withheld from employees' wages and paid directly to the government by the employer. | Withholding
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Created by:
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