income and taxes Word Scramble
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Question | Answer |
A sum of money paid regularly to a person, typically to meet specified needs or expenses. | Allowance |
Earnings not paid out as dividends but instead reinvested in the core business or used to pay off debt | Accumulated Earnings |
Give an order for or authorize the production of | Commissions |
An amount that is or may be deducted from something, esp. from taxable income or tax to be paid. | Deduction |
A person who relies on another, esp. a family member, 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,Boss | Employer |
The process of exempting a person from paying taxes on a specified amount of income for themselves and their dependents. | 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 |
revenue - earnings - proceeds - profit - yield - gainings | Income |
The Federal government has set forth that employers must make deductions from employees’ paychecks for Social Security and Medicare | Medicare Tax |
the excess of revenues over outlays in a given period of time | Net Income |
The Federal Insurance Contributions Act (FICA) tax is a United States payroll | Social Security Tax |
Wage and Tax Statement. The form used to report wages, tips, other compensation, withheld income and social security taxes | W-2 Form |
tax forms are used by taxpayers and tax-exempt organizations to report financial information to the Internal Revenue Service (IRS). | W-4 Form |
withheld from employees' wages and paid directly to the government by the employer. | Withholding |
Created by:
jwallace
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