My Income and Taxes

NMI stands for

• Net Monthly Income

• National Monthly Income

• Network Merchants Industry

• Net Money Income

GAI stands for

• Gross Annual Income

• General Ability Index

• General Annual Income

• Graphic Arts Institute

GMI stands for

• Gross Monthly Income

• General Monthly Income

• Global Market Insight

• General Mills Inc.

GMI minus the total deductions equals NMI.

• True

• False

To calculate the GMI, you _____ the annual salary by 12.

• Divide

• Multiply

• Subtract

• Add

The total amount of income generated by the sale of goods or services related to the company's primary operations.

• Revenue

• Profit

• Income

• Taxes

The amount of income that remains after accounting for all expenses, debts, additional income streams, and operating costs.

• Profit

• Revenue

• Taxes

• Income

(True/False) Gross Annual Income is the total pay or earnings made over a one-year period after deduction have been taking out.

• True

• False

Money received on a regular basis for work or through investments.

• Income

• Taxes

• Revenue

• Profit

A social insurance system that provides benefits to most Americans who are retired, sick, or too disabled to work, and to families of workers who have died.

• Social Security

• Social Distancing

• Social Insurance

• Social Benefits