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 service charge assessed by a broker or investment advisor in return for providing investment advice and/or handling the purchase or sale of a security. | Commissions
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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, esp. a nonexecutive. A person employed for wages or salary, esp. a nonexecutive. A person employed for wages or salary, esp. a nonexecutive. | Employee
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| A person or organization that employs people. A person or organization that employs people. | Employer
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| 1.The process of freeing or state of being free from an obligation or liability imposed on others. | 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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| An extra benefit supplementing an employee's salary. | Fringe Benefits
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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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| Money received, esp. on a regular basis, for work or through investments Money received, esp. on a regular basis, for work or through investments. Money received, esp. on a regular basis, for work or through investments. | Income
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| The tax withheld from employee wages to pay for Medicare benefits. | Medicare Tax
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| the excess of revenues over outlays in a given period of time | Net Income
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| a system in which employees receive a share of the net profits of the business. | Profit Sharing
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| A fixed regular payment | Salary
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| The tax levied on both employers and employees used to fund the Social Security program. | Social Security Tax
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| a reduction in the gross amount on which a tax is calculated | Tax Deduction
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| 3.A sum of money given to someone as a way of rewarding them for their services. | Tips
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| Wage and Tax Statement | W-2 Form
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| Form known as the Employee's Withholding Allowance Certificate. | W-4 Form
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| A fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee | Wages
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| Reduces the amount of wages subject to federal income tax withholding based on exemptions and deductions | Withholding Allowance
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