Required payments to a government.
8.11 Taxes Flashcard

Flashcard
•
Life Skills
•
9th - 12th Grade
•
Hard
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51 questions
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1.
FLASHCARD QUESTION
Front
Back
Taxes
2.
FLASHCARD QUESTION
Front
A portion of one’s personal income paid to a government including the federal and state.
Back
Income tax
3.
FLASHCARD QUESTION
Front
A tax on income to fund the social security benefits to most Americans who are retired, sick, or too disabled to work, and to families of workers who have died.
Back
FICA - Social Security
4.
FLASHCARD QUESTION
Front
A tax used to fund the government's Medicare program, which provides subsidized healthcare and hospital insurance benefits to retirees and the disabled.
Back
FICA - Medicare
5.
FLASHCARD QUESTION
Front
Is the total amount you earn before any deductions are subtracted? Options: Net Pay, Gross Pay, Income, Taxes
Back
Gross Pay
6.
FLASHCARD QUESTION
Front
Income amount remaining after all deductions have been taken out of gross pay.
Back
Net Pay
7.
FLASHCARD QUESTION
Front
Amounts subtracted from your gross pay
Back
Deductions
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