PBMF Chapter 18 Test Review

Amount that is subtracted from the taxes an individual owes if eligible

An allowed expense that can be deducted from adjusted gross income

Gross pay minus payroll deductions

Amount on which taxes are calculated

Form that shows earnings and tax deductions withheld during the year.

Income in the form of a wage, salary, or commission

Fixed amount that may be deducted from adjusted gross income.

Form that helps an employer determine an employee's payroll deductions

Money paid for service beyond what is required.

Payment for work and is usually calculated on an hourly, daily, or weekly basis.