Income 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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| An amount that is allowed or granted | allowance
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| paid entirely or partially with commissions from sales one has made or for work one has done | Commissions
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| something that is or may be deducted | Deduction
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| relying on someone or something else for aid | Dependent
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| a plan in which salaries or other payments are transferred by the paying agency directly to the accounts of the recipients. | Direct Deposit
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| income from wages, salaries, fees, or the like, accruing from labor or services performed by the earner. | Earned Income
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| a person working for another person or a business firm for pay. | Employee
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| the circumstances of a taxpayer, as age or number of dependents, that allow him or her to make certain deductions from taxable income. | Exemptions
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| An income tax is a tax levied on the income of individuals or businesses (corporations or other legal entities). Various income tax | 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 is the starting point | Gross Income
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| the monetary payment received for goods or services, or from other sources, as rents or 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 | Medicare Tax
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| A company's total earnings or profit | Net Income
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| Federal tax levied equally on employers and employees, used to pay for Social Security programs. | 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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| tells the employer the correct amount of tax to withhold from an employee's paycheck. | W-4 Form
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| Refuse to give | Withholding
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| Gather together or acquire an increasing number or quantity of | Accumulated
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Created by:
yhicks
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