Income and Taxes

Implies money or valuable possessions accumulated by a person during his life.

• income

• wealth

• net pay

• filing status

It is getting money without having to work for it directly.

• income

• deductions

• net pay

• unearned income

Comes from working a job and getting paid.

• earned income

• unearned income

• wealth

• allowances

Money that a person or a business receives in return for working, providing a product or service, or investing capital.

• allowances

• deduction

• earned income

• income

The money you have made.

• earnings

• taxes

• net pay

• unearned income

This is your tax-filing group based on marital status as of the last day of the tax year.

• exemtion

• tax credit

• wealth

• filing status

The total amount you earn before deductions are subtracted.

• deductions

• allowances

• gross pay

• exemptions

The amount subtracted from your gross pay.

• employee benefits

• IRS

• deductions

• filing status

The amound taken out of your paycheck.

• unearned income

• earnings

• tax

• allowances

When all deductions are taken out of gross pay.

• exemption

• net pay

• earned income

• gross pay