Taxes
Flashcard
•
Life Skills
•
12th Grade
•
Practice Problem
•
Hard
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21 questions
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1.
FLASHCARD QUESTION
Front
The amount of money you actually receive after the deductions are taken from your gross income.
Back
Net income
2.
FLASHCARD QUESTION
Front
Amounts of money taken from income before you are paid.
Back
Deductions
3.
FLASHCARD QUESTION
Front
Total money you earn before taxes and other deductions.
Back
Gross income
4.
FLASHCARD QUESTION
Front
This is paid to the Government once a person's income passes a set amount.
Back
Tax
5.
FLASHCARD QUESTION
Front
As taxable income increases, income tax rates ____
Back
increase
6.
FLASHCARD QUESTION
Front
Your take home pay is also known as what?
Back
Net Pay
7.
FLASHCARD QUESTION
Front
This form will be sent to Lily by the end of January. She will use this W-2 form to…
Back
File her income taxes
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