Incoming Taxes
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| allowance is an amount of money set aside for a designated purpose. | Allowance
🗑
|
||||
| tax imposed by the federal government upon companies with retained earnings deemed to be unreasonable and in excess of what is considered ordinary | Accumulated Earnings
🗑
|
||||
| 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
🗑
|
||||
| An amount that is or may be deducted | Deduction
🗑
|
||||
| relying on someone or something else for aid, support | Dependent
🗑
|
||||
| a banking term that describes a deposit of money straight from the source into a bank account, by electronic funds | Direct Deposit
🗑
|
||||
| derived from active participation in a trade or business, including wages, salary, tips, commissions and bonuses. | Earned Income
🗑
|
||||
| a person working for another person or a business firm for pay | Employee
🗑
|
||||
| A legal entity that controls and directs a servant or worker under an express or implied contract of employment and pays | Employer
🗑
|
||||
| The act or an instance of exempting | Exemptions
🗑
|
||||
| rate schedule is a chart that helps United States taxpayers determine their federal income tax burden for a particular year. | Federal Income Tax
🗑
|
||||
| Federal Insurance Contributions Act (FICA) tax is a United States Federal payroll (or employment) tax imposed on both employees and employers to fund Social | FICA
🗑
|
||||
| An individual's total personal income before taking taxes or deductions into account | Gross Income
🗑
|
||||
| Economic wealth that is generated in exchange for an individual's performance of agreed upon activities or through investing capital. | Income
🗑
|
||||
| The Additional Medicare Tax applies to individuals' wages, other compensation, and self-employment income over certain thresholds | Medicare Tax
🗑
|
||||
| A company's total earnings (or profit) | Net Income
🗑
|
||||
| The Social Security tax rate had been temporarily reduced for the years 2011 and 2012, in what was referred to as a payroll tax holiday. | Social Security Tax
🗑
|
||||
| Form W-2, Wage and Tax Statement. Every employer engaged in a trade or business who pays remuneration for services performed | W-2 Form
🗑
|
||||
| W-4 is one of the first things you do when you start a new job. | W-4 Form
🗑
|
||||
| portion of an employee's wages or salary withheld by 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:
telly
Popular Finance sets