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Worksheetsch.3 Taxation Vocabulary
Total questions: 19
Worksheet time: 10mins
Total income before payroll deductions.
commission
tip
bonus
gross pay
income paid as a percentage of sales made by a salesperson.
commission
tip
bonus
gross pay
Money added to an employee's vase pay.
Commission
Tip
Bonus
Gross pay
Money paid beyond services that are required.
Commission
Tip
Bonus
Gross pay
a wage based on the amount of work which is completed.
wage
levy
piecework
salary
tax means to use legal authority to impose a payment
wage
levy
piecework
salary
a fixed payment for work and is expressed as an annual figure.
wage
levy
piecework
salary
payment for work that is usually calculated on an hourly, daily, or piecework basis.
wage
levy
piecework
salary
the income received from employment, including self-employment
earned income
unearned income
taxable income
taxable deduction
earnings from sources other than work.
unearned income
earned income
taxable deduction
taxable income
The amount of income which is taxed.
earned income
unearned income
taxable income
tax deductions
Government approved items that will not count towards gross income.
unearned income
earned income
taxable income
tax deduction
a government program that pays certain health-care costs for eligible, low-income individuals or families.
Social Security
Medicare
Medicaid
W-2 Form
Wage and tax statement that shows your earnings and the amounts of income, Social Security and Medicare taxes withheld from your earned income annually.
Social Security
Medicare
Medicaid
W-2 Form
a federal program that provides income when earnings are reduced or stopped because of retirement, serious illness or injury or spousal death.
Social Security
Medicare
Medicaid
W-2 Form
a federal program that pays for certain health-care expenses for older citizens and other with disabilities.
Social Security
Medicare
Medicaid
W-2 Form
the review of financial records and statements to make sure the information is accurate as reported.
Dependent
Audit
Exempt
Tax
An amount that a tax payer can claim for each person who is dependent on that person's income.
dependent
audit
tax
exempt
an Internal Revenue Service tax form completed by an employee in the United States to indicate his or her tax situation to the employer.
W-2
W-4
Tax Reduction Form
Social Security
