Taxes
Budget
Banking
Payroll
Miscellaneous
100
the amount(s) subtracted from gross income for expense(s) allowed by the government that reduces the taxpayers’ taxable income
What is deductions?
100
a monthly or yearly spending and savings plan for an individual, family, business, or organization
What is budget?
100
a computer terminal that provides 24/7 access for basic banking services (e.g., cash withdrawals and deposits to various checking and savings accounts) from remote locations
What is ATM?
100
a percentage of money that a company withholds from its employees for the federal government as required by law. Federal and state taxes are required to be withheld from the employee's paycheck according to tax tables provided by the respective governments.
What is payroll taxes?
100
a bank account that allows customers access to their money through withdrawals and deposits (e.g., writing a check (or using a debit card) to a payee or to obtain cash from the account, making a deposit to the account, etc.)
What is checking account?
200
annual state imposed tax on different types of personal properties (e.g., vehicle, farming equipment, boat, etc.) paid by a property owner to local government in which the property is located
What is personal property taxes?
200
amount of money paid per hour worked, pay = hourly rate • hours worked
What is hourly rate?
200
a bankcard issued by a financial institution that is electronically linked to an individual’s checking account for the purpose of making banking transactions, making payments for services, and/or making purchases
What is debit card?
200
a percentage of money that a company withholds from its employees for the federal and state governments as required by law (e. g., income tax, social security contributions, health insurance, unemployment and disability insurances, supplemental retirement, etc.). Some deductions are determined by formulas set by the government, whereas other deductions are voluntary by the employee.
What is payroll deductions?
200
amounts deducted from gross income based on specified allowable expenses
What is itemized deductions?
300
retail sales promotion under which a customer deposits a down payment or a fraction of the cost of the merchandise and the merchandise is held on or before a specified date when the customer completes the payment and picks up the merchandise
What is layaway plans?
300
a fixed paycheck described as an annual sum that may or may not be dependent on the number of hours worked. Salaries are usually stated in annual terms, but are paid in increments on a regular time schedule, such as monthly
What is salary?
300
banking system that allows an individual to perform banking services using the internet (e.g., monitor accounts, pay their bills, etc.)
What is online banking?
300
the total amount of personal income prior to taxes and deductions
What is gross pay?
300
a high-interest, short term loan that is repaid when the borrower receives their next paycheck
What is payday loan?
400
a tax based on an individual’s income for federal and/or state governments as required by law. The amount of the tax is usually determined by varying rates on different levels of taxable income which are published annually in tax tables by the federal Internal Revenue Service.
What is personal income tax?
400
payment for goods or services (e.g., wages, salaries, tips, fees, commissions, etc.)
What is compensation?
400
a line of credit a banking institution offers to their customers to cover overdrafts, withdrawals from an account that is greater than the balance within the account
What is overdraft protection?
400
the income that remains after taxes and other deductions are taken from an individual’s gross income
What is net pay?
400
a flat rate amount based on income and number of exemptions the government allows in place of itemizing expenses for deduction
What is standard deduction?
500
annual tax (county, city, school, etc.) based on an appraised value (land, improvements to land, buildings, etc.) paid by a land owner to local government
What is property taxes?
500
fees charged by a bank for a customer's use of an ATM owned by another bank or credit union
What is debit card/ATM fees?
500
fees charged by the bank to the customers for processing account activities (e.g., deposits, checks, transfers, loan payments, bill payments, etc.).
What is processing fees?
500
amount of money paid based on a percentage of the goods sold, pay = set percentage • amount of goods sold
What is straight commission?
500
stated value of a property as set by a qualified appraiser or person who works for the local tax assessing office
What is appraised value ?
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