Ch10 L2

Which income is defined as, "Money earned regularly with little to no effort."

• Earned Income

• Portfolio Income

• Passive Income

• Irregular Income

Which income is defined as, "Money earned from selling an investment at a profit."

• Earned Income

• Portfolio Income

• Passive Income

• Irregular Income

Which income is defined as, "Money earned from someone's labor."

• Earned Income

• Portfolio Income

• Passive Income

• Irregular Income

Which income would be earned from selling stocks?

• Earned Income

• Portfolio Income

• Passive Income

• Irregular Income

Which income would be earned from collecting rent payments from one of your properties?

• Earned Income

• Portfolio Income

• Passive Income

• Irregular Income

Getting paid hourly for your work is referred to as ​ (a)   , whereas earning income on a yearly rate for work is referred to as a ​ (b)   .

• wages
• salary

NAME the document that you fill out to tell your employer how much to withhold for taxes.

• Form 1040

• W-4

• W-2

• Form 1090

Select all of the income types that you have to pay taxes on.

• Earned Income

• Passive Income

• Portfolio Income

Select all of the items below that you will owe taxes on.

• Profit from selling stocks.

• Collecting Rent Payments.

• Money from working at Burger King.

• Ad Revenue generated from your YouTube channel.

FICA stands for...

• Federal Income Collections Agency

• Federal Insurance Contributions Act

• Formal Intervention on Currencies Act

• Formal Inspections Corroboration Act