Employment, Insurance, & Taxes

Front

What tax form is used to tell your employer the amount of allowances you will be claiming?

Back

W4

Front

Which document is NOT required to get a job?

Back

School Issued ID

Front

What is the out-of-pocket cost to the insured when a loss occurs called?

Back

Deductible

Front

Which tax form provides information about your previous year's pay and deductions?

Back

W2

Front

What is a health insurance copay?

Back

A fixed amount of money you pay each time you use your plan.

Front

What is the purpose of a W2 form?

Back

To report an employee's annual wages and the amount of taxes withheld from their paycheck.

Front

What does a premium refer to in insurance?

Back

The amount paid for an insurance policy.

Front

What is the difference between a deductible and a copay?

Back

A deductible is the amount you pay out of pocket before insurance kicks in, while a copay is a fixed amount paid for a specific service.

Front

What is the significance of a Social Security Card when applying for a job?

Back

It verifies your identity and eligibility to work in the U.S.

Front

What is the role of a 1099-INT form?

Back

To report interest income earned during the year.