Taxes and Paychecks
vocabulary
Created Date
04.29.19
Last Updated
04.29.19
Viewed 18 Times
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Topics of this game:
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national legislative body of U.S. consisting of the Senate and House of
Representatives as a continuous institution
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Internal Revenue Service; federal bureau which collects taxes every year and
turns the money over to the Treasury Department to cover expenses of the
U.S. government
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executive agency responsible for promoting economic prosperity and ensuring
financial security of the United States
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amount, based on percentage of one’s taxable income, paid to the U.S., and in
some cases, to the state in which one lives
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amount, based on a percentage of a purchase, paid to the state and local
governments in which one lives
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amount, based on a percentage of property value, paid to the local governments and school districts in which one lives
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tax, similar to a sales tax, imposed on some goods
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amount, based on the value of one’s estate, which one’s heirs or beneficiaries
will pay to the government upon one’s death
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tax imposed on the transfer of money or property from one living person to
another by gift, payable by the donor
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person who relies on another for financial support
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amount deducted from a paycheck by an employer on the employee’s behalf to
pay federal income taxes based on the number of personal allowances claimed
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Federal Insurance Contributions Act; a Social Security retirement tax
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amount of income before taxes and other deductions
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program under the U.S. Social Security Administration that reimburses
hospitals and physicians for medical care
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amount of income after taxes and other deductions; also known as take-home
pay
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government program which provides economic assistance to a person faced
with unemployment, disability or old age; paid for by a set percentage taken out
of one’s paycheck and paid to the federal government during working years
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monetary credit received on one’s tax return for each person claimed as a
dependent
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amount paid before commission
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fixed amount of money paid to a person on a regular basis for services
rendered
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sum of money given to an employee in addition to the employee’s usual
compensation
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payment for work done per hour
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base hourly wage set by the federal government
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salary range set by the government for all government jobs
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payment for additional work done outside of regular working hours
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amount of money one is paid at the beginning of a job
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percentage paid of each sale, no base salary is available
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amount of one’s salary remaining after federal, state and often city income
taxes and various other deductions have been withheld
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working on a contractual basis rather than being employed by a specific
company, giving tax and income responsibility to the worker
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social insurance program which provides unemployment compensation for a
limited period to involuntarily unemployed workers
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