Taxes

The amount of money you actually receive after the deductions are taken from your gross income.

• Net income
• Deductions
• Wages
• Tax

Amounts of money taken from income before you are paid.

• Commission
• Retainer
• Deductions
• Rate

Total money you earn before taxes and other deductions.

• Salary
• Net income
• Gross income
• Wages

This form will be sent to Lily by the end of January. She will use this W-2 form to…

• Obtain employment

• Receive her paycheck

• File her income taxes 

• Begin her retirement savings

All of the following employee information is included on a W-2 form EXCEPT...

• Employer name and EIN (Employer Identification Number)

• Employee’s Social Security Number

• Employee’s date of birth

• Employee’s current address

IRS stands for

• Internal Revenge Service

• International Revenue System

• Internal Revenue Service

• Inspection Ravioli Sauce

When you are ready to file for taxes you must have form

• W-2

• W-6

• WD40

• W-2484

Which of the following do homeowners pay based on the value of the residence?

• Corporate taxes

• General sales taxes

• Individual income taxes

• Property taxes

Earning income can consist of salaries, wages, tips, and more.

• True

• False

Taxes help pay for government services like roads, education, the military

• True

• False