Deductions
Tax deducted from an individual's paycheck based upon their net income
Income Tax
Form used to determine the amount of income tax deducted from your paychecks
W-4
Helps you make smart financial decisions
Cash flow
Tax deducted from an individual's paycheck, such as Social Security and Medicare
Payroll Tax
Employment eligibility verification form
I-9
A negative cash flow
Deficit
Tax applied to personal property, such as houses or automoblies
Property Tax
An important IRS form used to show your income earned and taxes paid over the year
Form 1040
All of the income an individual receives in a year
Gross Income
Tax applied on the sale of a good and services
Sales Tax
A document given to an individual form a financial institution listing any earned interest accrued on your account
Form 1099
Income you take home
Net pay
Taxes used to fund federal programs
Federal Income Tax
Document prepared by employer, that reports an employee's annual wages and the amount of taxes withheld from paychecks
W-2
An attachment to your paycheck
Pay Stubs