TAXES
A mandatory fee imposed by the government or other similar organization
Tax
What does it mean if someone is tax exempt?
Assets
Everything your business owns
The skill to relate and work effectively in culturally diverse situations.
Cultural Competence/Intelligence
Connection of the world's economies, cultures, and populations
Globalization
This tax is based on the value of property such as land and buildings
Property tax
Define tax withholding
Money taken off a paycheck for taxes by employer
Examples of liabilities
Mortgage, Taxes, Debt
Generalized belief about a particular category of people. It is an expectation that people might have about every person of a particular group
Stereotype
Businesses exist to fulfill a specific social purpose and to satisfy a specific
need
Tax day/
The date that tax returns are due unless you file an extension
April 15th
Who is a dependent?
A person other than the taxpayer or spouse who entitles the taxpayer to claim a dependency exemption
Provides a snapshot in time of the financial condition of your business and tells you the Net worth of the company
Balance Sheet
Prejudice in favor of or against one thing, person, or group compared with another, usually in a way considered to be unfair.
Bias
When supply exceed demand for a good or service, prices.....
fall
The form that an employer must send to an employee and the Internal Revenue Service (IRS) in order to file tax returns
W-2
The date by which an employer must mail a W-2 form to an employee
January 31st
Statement that will tell whether you had a net profit for the period or suffered a net loss
Income Statement
Belief in the superiority of one's nation or ethnic group. In other words... thinking your own culture is better than another culture
Ethnocentrism
Factors that allow a company to produce goods or services better or more cheaply than its rivals
Competitive Advantage
A federal tax form filled out by an employee to indicate the amount that should be withheld from his/her paycheck for taxes
W-4
A percentage of the price of an item that a person pays when they buy something
Salex tax
Total amount of income earned by the sale of goods and services
Revenue
What is workforce diversity?
When organization intentionally employs a workforce comprised of individuals with a range of characteristics, such as: Gender, Religion, Race, Age, etc.
What is Organizational Structure?
- Defines hierarchy within an organization.
- The ways in which power and authority are distributed within an organization