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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| An amount or share alloteed or granted. | Allowance
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| are a companys net profits after deducting distributions to the stockholders. | Accumulated Earnings
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| A service charge assessed by a broker or investment advisor in return for providing. | Commissions
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| Any item or expenditure subtracted from gross income to reduce the amount of income. | Deduction
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| An individual whom a taxpayer can claim for credits and/or exemptions. | Dependent
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| Electronic funds that are deposited directly into your bank account rather than through a paper check. | Direct Deposit
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| Income derived from active participation in a trade or business, including wages, salary, tips, commissions and bonuses. | Earned Income
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| A person employed for wages or salary, esp. a nonexecutive. | Employee
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| 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 (corporations or other legal entities). | Federal Income Tax
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| U.S. law requiring a deduction from paychecks and income that goes toward the Social Security program and Medicare. | 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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