Taxes
Income tax is paid on these two things.
What is earned and unearned income?
Minimum Wage can be defined as
What is the lowest legal hourly pay.
Coverage for medical expenses; may include dental and vision.
What is health insurance?
What is a W-4?
Total amount of money earned before deductions.
What is gross pay?
Payroll tax is paid on earned income that supports __________ and ________.
What is Social Security and Medicare?
Money taken out of your paycheck each pay period.
What is a deduction?
Savings plan for retirement; may include employer matching.
What is a retirement plan?
The form showing wages earned and taxes paid; used for filing taxes.
What is the definition of 'w-2 form'?
Amount of money taken home after deductions.
What is net pay?
A tax on property such as land, buildings, and motor vehicles.
What is a property tax?
Employment that can be terminated by either party at any time.
What is at will employment?
PTO or Vacation Days.
What is paid time off from employers?
The form verifying employment eligibility in the U.S.
What is the i-9 form?
Money taken out of your paycheck; can be mandatory or voluntary.
What is a deduction?
a tax on items purchased at retail stores that is a percentage added on to the original price.
What is a sales tax?
The number of federally mandated vacation days.
What is 0?
When taxes increase as the amount of income increases.
What is a progressive tax?
What is a 1099?
Provides income for retirees, disabled individuals, and survivors.
What is social security?
Examples of items you pay an excise tax on
What is gas, hotel rooms, airline tickets, and alcohol.
Uber Drivers, Door Dashers and Dog Walkers can all be considered these.
What is Gig Workers?
Employers match the amount employees pay in FICA taxes. True or False?
What is True?
The form used to file your taxes when you have a simple W2.
What is a 1040?
Helps pay for health care for senior citizens.
What is medicare?