If an employee is paid $40,000 a year to complete certain tasks and work at least so many hours a day or more if needed the employee is earning a _____.

1 1/2 or 150% of your normal hourly rate for each hour worked beyond 40 in a week is called ______.

Compensation based on the products you sell is called _____.

Money paid to employees by customers above the cost of product of service provided (usually receive in restaurants) is called _____.

Extra money paid to employees based on how well the company does

Benefits offered by employers include ____.

Employers are not required to offer health insurance regardless of the number of employees they have.

Life Insurance is an optional benefit that can be offered by employers,

You should opt for life insurance if ______.

When accepting a job offer, you should consider only the gross pay.

Monetary costs of working could include:

Opportunity costs of working could include:

Pay before taxes and deductions is called ____.

Pay after taxes and deductions is called ____.

IRS stands for the _______ and is the government bureau that collects tax money and enforces the tax law.

An amount paid (a % of taxable income) to the US Treasury to support US government programs and services.

An amount paid (a % of taxable income) to your state government for state-funded programs and services.

An income or occupational tax paid to your city or county for the privilege of working there.

An amount paid to the Social Security Trust Fund for the Social Security and Medicare Programs. It is based on earned income and your employer must match.

A federal insurance program that provides benefits to retired people and those who are unemployed or disabled

A federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with ESRD.

Federal and State Tax deductions are based on which of the following criteria. Check all that apply.

A form completed by an employee to indicate his or her tax situation to the employer. It informs the employer the amount of tax to withhold from an employee's paycheck.

A form sent to employees at the end of the year. It reports an employee's annual wages and the amount of taxes withheld from his or her paycheck.

A faster and easier IRS tax filing form alternative to the 1040 income tax form, meant for taxpayers with less complex tax situation.

A tax form that allows taxpayers to claim student loan interest and other deductions.

US Federal Income taxes are progressive taxes.

Progressive taxes mean

Federal income taxes are paid on

Interest on home mortgage, interest paid on student loans, donations to charity is called _____.

The taxpayer, taxpayers spouse, taxpayers children under the age of 19 or in college are called _____.

If you have more than the standard deductions you can do what to help you save money on your taxes?

What month and day of each year must you file your taxes or file an extension?

Where does this interest come from?

Where does dividends come from ?

_____ is money from letting someone use your property, land, or equipment.

____ is money business has more income than expenses in a year.

Financial assets from which we can obtain unearned income include:

Property income that is generated by the assets we own is called

Ability to generate income from our body and mind is called _____.

True profit is called "economic profit" .

Taxes paid on real estate and vehicles; used to support local services like schools, police, and sanitation are called ___.

This tax is a % of the cost of what you are buying and is added on to the price at the time of purchase.

Insurance is way of ____ risk.

____ insurance protects you and other drivers in the case of a car accident.

____ insurance covers your home and the items.

_____ insurance covers just the items in your home.

_____ insurance can help cover the cost of medical expenses like doctor visits, prescriptions, emergency medical care, and hospital stays.

____ insurance helps cover the lost income due to a long term illness or injury.

Life insurance is for your beneficiaries.

A _____ is the amount you pay to the insurance company for coverage.

A _____ is the amount you must pay out of pocket before your insurance kicks in.

A ____ is a request for payment submitted to your insurance company.

A ____ is a fixed fee you pay for specific medical services.