Tax Terms

What is the tax paid out by anyone who earns an income?

• Income Tax

• Portfolio Income

• State income tax

• Net Pay

What is money earned on a regular basis with little or no effort required to maintain it?

• Earned Income

• Sales Tax

• Passive Income

• FICA (Federal Insurance Contribution Act)

What is the federal agency responsible for tax collection and tax law enforcement?

• Social Security

• The Internal Revenue Service (IRS)

• Federal income tax

• Personal Branding

What are taxes paid by anyone who owns property such as land, a home, or commercial real estate?

• I-9

• Property Taxes

• W-2

• Gross Pay

What is the income (wages/salary) that is generated by working?

• Investment Income

• Property Income

• inheritance Income

• Earned Income

What is the process by which we 'market' ourselves to others; involves highlighting personal strengths, interests, and unique qualities and identifying goals?

• Job Application

• Personal Branding

• W-4

• Excise Tax

What is an income generated by selling an investment at a higher price than you paid for it?

• Passive income

• Interest
• Portfolio income

• Rental income

What is a brief account of one's professional or work experience and qualifications, often submitted with an employment application?

• Job Description
• Cover Letter
• Resume
• Employment Contract

What is a tax on goods and services that goes to your state or local government?

• Income Tax
• Sales Tax
• Property Tax
• Excise Tax

What is a federal insurance program funded by taxpayer dollars that provides benefits to people who are retired, unemployed, or disabled?

• Social Security
• Private Insurance
• Life Insurance
• Health Insurance