What is withholding's
the portion of an employee's pay held back to cover taxes and other deductions.
Tax Bracket
the income ranges in which tax rates apply
form 1098
report mortgage interest
Gross
The amount you earn before taxes and other payroll deductions
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National Debt
the total amount of debt a country owes
Tax credit
an amount of money a taxpayer can subtract from the taxes they owe
form 1098-E
report interest paid on student loans
Net
What a person earns after payroll taxes and other deductions are taken out referred to as take home pay
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Un Verano Sin Ti- Bad Bunny
Fiscal spending
spending more than you earn
inheritance tax
a state tax on an asset an individual received from someone who has passed away
form 1099- MISC
report amount a client paid you for freelance or contract work.
Passive
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Season 6
deficit spending
spending more than you earn an economic policy
Tax schedule
a special tax form to report certain types of income or deductions.
form 1099-INT
report interest earned on savings and investments
Portfolio
Income from an investment sold at a higher price than you paid for it
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never it was fake
paper asset
a representation of stocks,bonds,currencies,mutual funds ect.
Capital gains tax
a tax on the positive difference between the sale price and the value of a gift
from 1099-DIV
report dividends earned on investments.
Earned
Any income that is generated by the work someone performs
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7 1/2