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income and taxes
| Question | Answer |
|---|---|
| 1.The amount of something that is permitted, esp. within a set of regulations or for a specified purpose. | Allowance |
| Gather together or acquire an increasing number or quantity of. | Accumulated |
| Money obtained in return for labor or services. | Earnings |
| The authority to perform a task or certain duties. The authority to perform a task or certain duties. The authority to perform a task or certain duties. The act of granting certain powers or the authority | Commissions |
| The action of deducting or subtracting something. | Deduction |
| 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 |
| 1.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 |
| Money received, esp. on a regular basis, for work or through investments. Money received, esp. on a regular basis, for work or through investments. Money received, esp. on a regular basis, for work or through investment | Income |
| The Federal government has set forth that employers must make deductions from employees’ paychecks for Social Security | 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, | W-2 Form |
| This Form may be used by any foreign private issuer, as defined in Rule 405 | W-4 Form |
| 1.Refuse to give (something that is due to or is desired by another): "the withholding of consent to treatment". | Withholding |
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