WorksheetsIncome and Taxes
Total questions: 17
Worksheet time: 9mins
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
Offered to employees over and above what they receive as a salary.
employee benefits
exemption
unearned income
gross pay
This refers to a range of incomes subject to a certain income tax rate.
filing status
tax
tax bracket
exemption
This is a form, or form filed, with a tax authority that reports income, expenses, and other pertinent tax information.
tax return
tax bracket
exemption
employee benefits
The Internal Revenue Service are the ones who collect income taxes and enforce the tax laws.
IRS
tax credit
earned income
auditors
This is a required payment by a taxpayer, mandated by the government.
tax
IRS
filing status
wealth
It is an amount of money a taxpayer can subtract from the taxes they owe, which helps reduce the amount of taxes owed.
allowance
deduction
tax credit
exemption
It is an amount you can subtract from your income for each person that is depended on your income in your household.
tax credit
allowance
deduction
exemption
