Tax Cycle
First day of the calendar year. Your earnings for the year begin on this date.
What is January 1st
Document that highlights how much taxes have been removed from your paycheck over the calendar year.
What is a W-2?
This piece of paper has two 9-digit numbers that allow the transfer of money from one account to another.
What is a check?
This action refers to transferring money from your checking to savings without having to do it yourself.
What is automatic?
The names of the individuals from our Unit 3 Savings Case Study.
Who are Samuel and Juan Carlos?
When you complete a W-4, indicating how much in taxes you’d like withheld from each paycheck and an I-9 identification forms.
What is starting a new job?
You fill this form out whenever you start a new job, as it shows how much taxes should be removed from your paycheck.
What is a W-4?
This is the action of adding any money into your account
What is a credit?
This action allows for the added money into your account based on the amount that you are already saving!
What is interest?
The formation of a real-estate corporation named after a monopolist, Washington Mutual and this bank allowed for one of the biggest mergers in 2008.
What is Chase Bank?
The last day to file taxes without requesting an extension
What is April 15th?
This form is delivered to you if you received any money from a place that was not a job. Requires you to pay additional taxes
What is a 1099?
What is overdraft protection?
This action allows you dedicate half of your paycheck towards bills, and the others proportioned to savings and other free expenses you have.
What is the 50-20-30 Rule?
These two butting rivals in real life, individuals from the senior class have been arguing about the quality of these two pizza chains.
What is Dominos and Papa Johns?
Last day of the calendar year
What is December 31st?
This is the form that is submitted every year to indicate whether you overpaid in taxes, or you have taxes you have to pay.
What is a 1040?
This action is removing any money from your account. It can be done through purchases, or withdrawing from an ATM.
What is a debit?
This isn't something you can listen to, but you can deposit money into this type of account without touching it, and gain great interest off of it!
What is a certificate of deposit (CD)?
The actor from Harold and Kumar that we have been watching during our savings unit.
Who is Kal Penn?
Deadline for employers to send a W-2 form
What is January 31st
Form that requires you to provide proof that you are eligible to work in the United States, including passports and social security cards.
What is an I-9?
Apps like Zelle, Venmo, and CashApp run on a P2P software, where the acronym represents this.
What is person-to-person?
This action prevents individuals from saving, as its acronym suggests, we would be amiss if we didn't participate in the action.
What is FOMO (Fear of Missing Out)?
This is Mr. Batista's niece's favorite movie.
What is Finding Dory?