Different type of taxes
Consumption of tax imposed by the state or local government..
Sale tax
The amount left after deductions.
What is Net pay?
Extra money that's given as a reward for good customer service.
What is tips?
Income tax
The amount before deductions.
How much a person gets paid but not for a specific set of hours
What is salary?
One where the average tax burden increase with income.
Progressive Tax
What is the mandatory deductions?
FICA, state income tax, local tax, federal tax
Income earned by holding stock in a company that pays sharehold when profit are earned.
What is Dividends?
The levy on the profit that and investor makes when an investment is sold.
Capital gain Tax
If Joana worked 50 hours and she gets paid $20 an hour, what is her gross pay?
$1,000
How much someone gets paid hour that they work.
What is hourly?
One where the average tax burden decease with income..
Flat tax
If Joan worked 50 hours and get paid $20 an hour which means her gross pay is $1,000. All of her deductions cost $60 in total what is her NET PAY?
$940
Income agreed to legal contract usually producer for a specific set of service.
What is 1099?