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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| BiWeekly | show 🗑
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| Direct Deposit | show 🗑
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| Earned Income | show 🗑
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| Employee | show 🗑
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| Employer | show 🗑
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| Exemptions | show 🗑
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| show | the tax levied by the IRS on the annual earnings of individuals and other legal entities
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| FICA | show 🗑
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| Fringe Benefits | show 🗑
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| show | the sum of all wages, salaries, profits and other forms of earnings before any deductions or taxes
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| show | the amount of money you are earning by the hour
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| Income Tax | show 🗑
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| show | a tax on wages that U.S employers are liable to withhold from employees paychecks to cover the cost of the medicare program
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| Net Income | show 🗑
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| show | the amount of overtime paid to each employee in a pay period
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| Profit Sharing | show 🗑
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| Salary | show 🗑
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| show | additional compensation the employee receives for meeting and exceeding the minimum sales threshold
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| show | the tax levied on both employers and employees to fund the social security program
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| show | a reduction of income that is able to be taxed and is commonly a result of expenses
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| Tips | show 🗑
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| show | form that an employer must send to and employee and the internal revenue service at the end of each year. It is the official wage and tax statement that reports and employees annual wages and the amount of taxes withheld from their paycheck
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| show | An internal revenue service tax form completed by an employee in the united states to indicate his or her tax situation to the employer
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| show | refers to an exemption that reduces how much income tax an employer deducts from an employees paycheck. the employer then uses the W-4 information to determine how much of an employees pay to subtract from their paycheck to remit to the tax authorities
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Created by:
zgeiogamah20
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