Income and Taxes Word Scramble
|
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
Question | Answer |
A sum of money paid regularly to a person. | Allowance |
An accounting term applicable to stockholders of closely held businesses. | Accumulated Earnings |
An order for or authorize the production of something. | Commissions |
The action of deducting or subtracting something. | Deduction |
A person who relies on another for financial support. | Dependent |
The electronic transfer of a payment directly from the account of the payer to the recipient's account. | Direct Deposit |
Money derived from paid work. | Earned Income |
A person employed for wages or salary. | Employee |
A person or organization that employs people. | Employer |
The process of freeing or state of being free from an obligation or liability imposed on others. | Exemptions |
An income tax is a tax levied on the income of individuals or businesses. | Federal Income Tax |
Federal Insurance Contributions Act. | FICA |
Gross income in United States tax law is receipts and gains from all sources less cost of goods sold. | Gross Income |
Profits. | Income |
The Federal government has set forth that employers must make deductions from employees’ paychecks for Social Security and Medicare taxes. | Medicare Tax |
The excess of revenues over outlays in a given period of time. | Net Income |
United States payroll tax imposed by the federal government. | Social Security Tax |
Wage and Tax Statement | W-2 Form |
IRS tax forms are used by taxpayers and tax-exempt organizations to report financial information to the IRS. | W-4 Form |
A portion of an employee's wages or salary withheld by the employer as partial payment of the employee's income tax. | Withholding |
Created by:
Alissa615
Popular Finance sets