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 |
profits are a company's net profits after deducting distributions to the stockholders. This is calculated as of the beginning of the year. | Accumulated Earnings |
the fee allotted to an agent for services rendered | Commissions |
2.An amount that is or may be deducted from something, esp. from taxable income or tax to be paid | Deduction |
Relying on or requiring the aid of another for 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 A person employed for wages or salary | Employee |
A person or organization that employs people | Employer |
2.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 is the starting point... | Gross Income |
Money received, esp. on a regular basis, for work or through investments 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 | Social Security Tax |
(W-2 Forms) 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 |
2.Suppress or hold back | Withholding |
Created by:
dre1996
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