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!
|
|
||||
---|---|---|---|---|---|
a sum of money allotted or granted for a particular purpose, as for expenses | Allowance
🗑
|
||||
earnings deemed to be unreasonable and in excess of what is considered ordinary | Accumulated Earnings
🗑
|
||||
paid entirely or partially with commissions from sales one has made or for work one has done | Commissions
🗑
|
||||
An amount that is or may be deducted from something, esp. from taxable income or tax to be paid. | Deduction
🗑
|
||||
relying on someone or something else for aid, support | Dependent
🗑
|
||||
a plan in which salaries or other payments are transferred by the paying agency directly to the accounts of the recipients | Direct Deposit
🗑
|
||||
income from wages, salaries, fees, or the like, accruing from labor or services performed by the earner | Earned Income
🗑
|
||||
a person working for another person or a business firm for pay | Employee
🗑
|
||||
a person or business that employs one or more people, especially for wages or salary | Employer
🗑
|
||||
the circumstances of a taxpayer, as age or number of dependents, that allow him or her to make certain deductions from taxable income. | Exemptions
🗑
|
||||
An income tax is a tax levied on the income of individuals or businesses | Federal Income Tax
🗑
|
||||
The Federal Insurance Contributions Act | FICA
🗑
|
||||
total revenue received before any deductions or allowances, as for rent, cost of goods sold, taxes, etc. | Gross Income
🗑
|
||||
the monetary payment received for goods or services, or from other sources, as rents or investments. | Income
🗑
|
||||
The tax withheld from employee wages to pay for Medicare benefits. | Medicare Tax
🗑
|
||||
money you take home AFTER taxes are taken out | Net Income
🗑
|
||||
The federal tax paid by employers and employees on employee earned income. | Social Security Tax
🗑
|
||||
has no definition, correct definition is - tax forms are used by taxpayers and tax-exempt organizations to report financial information to the Internal Revenue Service | W-2 Form
🗑
|
||||
has no definition, correct definition is - A form completed by an employee to indicate his or her tax situation (exemptions, status, etc.) to the employer | W-4 Form
🗑
|
||||
A portion of an employee's wages or salary withheldby the employer as partial payment of the employee's income tax. | Withholding
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
camarahlove
Popular Finance sets