Financials
Concepts
Compensation
Deductions
Taxes
100
The money received over a period of time which is used to analyze future investments.
What is Income
100
Income remaining after deduction of taxes and other mandatory charges
What is Disposable Income
100
A fixed payment every on a set basis
What is Wage
100
A tax issued on the annual income of an employee
What is Federal Income Tax
100
The form that an employer must send to an employee and the IRS at the end of the year.
What is W-2
200
the total amount of money being transferred into and out of a business, especially as affecting liquidity.
What is Cash Flow
200
Income remaining after deduction of taxes, other mandatory charges, and expenditure on necessary items
What is Discretionary income
200
A set amount of money an employee earns for their work
What is Salary
200
Tax issued at a state level on the salary of an employee
What is State Income Tax
200
-A form completed by an employee to indicate his or her tax situation to the employer.
What is W-4
300
A financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time
What is Balance Sheet
300
Income that is used to calculate the amount of tax owed to the government.
What is Taxable Income
300
Amount of money added to wages on a seasonal basis
What is Bonus
300
A federal health insurance program, that provides health care for the aged
What is Medicare
300
An alternative form to the 1040 allowing for easier filing for a tax return
What is 1040EZ
400
The total amount an employee earns
What is Gross Pay
400
A financial statement that has assets, liabilities, and shareholders equity
What is Balance Sheet
400
An amount of money an employee makes for making a sale
What is Commission
400
Assistance to those who do not have the ability to work or make money.
What is Social Security
400
A form used to file for tax returns.
What is 1040
500
The employees take home pay
What is Net Pay
500
Liabilities + Shareholders' Equity
What is Assets
500
When someone works more than 40 hours a week, they are paid twice the normal wage they are allotted to make.
What is Overtime pay
500
You would file this if you are unable to work
What is Social Security
500
The form an employee and the IRS receive from an employer at the end of the year
What is W-2
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