income and taxes Word Scramble
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Question | Answer |
The amount of something that is permitted, esp. within a set of regulations or for a specified purpose. | Allowance |
An accounting term applicable to stockholders of closely held businesses. | Accumulated Earnings |
The authority to perform a task or certain duties. | 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, esp. a nonexecutive | 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 |
An individual's total personal income before taking taxes or deductions into account. | Gross Income |
Money received, esp. on a regular basis, for work or through investments. | 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 ,tax imposed by the federal government on | 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 |
IRS tax forms are used by taxpayers and tax-exempt organizations to report financial information to the Internal Revenue Service (IRS) | W-4 Form |
Refuse to give (something that is due to or is desired by another): "the withholding of consent to treatment" | Withholding |
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Created by:
hoperyan
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