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Income
Income Take 2
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Taxes
Miscellaneous
100

The amount you earn before taxes and other payroll deductions.

What is Gross Income?

100

When you are paid for the hours you work.

What are wages?

100

The basic tax form that you filled out in class.

What is Form 1040?

100

If you earn money, you must file this.

What is a tax return?

100
If you are to receive a refund, you can have the IRS either mail you a check, or ......
What is have the money go into your checking or savings account by "direct deposit?"
200

The portion of an employee’s pay held back to cover taxes and other deductions.

What are Withholdings?

200

Money you earn on a regular basis that requires little to no effort to keep it going.

What is Passive Income?

200
All taxpayers must file their Income Tax by this date.
What is "April 15?"
200

If you own property, you will have to pay this.

What is Property Tax?

200
A person who lives with you and for whom you pay more than half of his or her living expenses.
What is a "dependent?"
300

What a person earns after payroll taxes and other deductions are taken out.

What is Net Income?

300

 Money you receive from your investments as they grow.

What is Portfolio?

300
One important tax document you will need to complete the filing of your Income Tax is your _____, which your employer must complete and send to you by January 31st.
What is a "W-2?"
300

You may need to get this type of person to do your taxes. Especially if you are self-employed.

What is a Tax Professional?

300

What does the IRS stand for?

What is the Internal Revenue Service?

400

Spending more than you earn; an economic policy in which the government spends public funds raised by borrowing rather than by taxation

What is Deficit Spending?

400

What Net Income is also called.

What is "Take-home Pay?"

400
What is the term for all the taxable income you receive?
What is "Gross Income?"
400

Together social security and medicare make up this tax that is withheld from your paycheck.

What is FICA?

400

An examination of your tax return by the IRS.

What is an Audit?

500

The total amount of debt a country owes to companies and other countries as a result of deficit spending

What is the National Debt?

500

Any income (wages/salary) that is generated by the work someone performs.

What is Earned Income?

500

The form you fill out before you get paid.

What is W-4?

500

Fees charged by the government to fund government  expenses.

What are Taxes?

500
If you have paid more Federal Income Tax than you should have, then you will be receiving a _________.
What is a "Refund?"