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Deduction from your AGI
Your gross income after calculating certain reductions
Adjusted gross income
Deductions from owed taxes
Adjustment to the tax withheld from your paycheck based on your marital status
Adjustment to the tax withheld from your pay based on your marital status. -Can reduce the amount on income taxes your employer withholds.
Reports your interest income
Simplest form if you meet these requirements -Single -Under 65 -Have Wages or Salary
Standard deduction claim -Have Children -Student loans
Includes sections covering all types of income
Tax you pay on the income you receive Tax on -Wages -Salaries -Self employed earnings
For -Federal retirement -Disability -Life insurance benefits
Pay as you earn basis, employer must withhold or take out social security and income tax payments from your paycheck and send the money to the IRS.
Income that is not subject to taxes
When you are payed but not working
Amount of money set by IRS that is NOT taxed.
Expense that you can subtract from your adjusted gross income to figure your taxable income.
Specific expense, such as medical expenses.
Tax payer reports how much money he or her received from working and other sources and the exact taxes that are owed.
The total amount of taxes owed
Extended deadline fro filling an income tax return, but it does not delay tax liability.
Detailed examination of your tax return by the IRS
Tax moved so it is payed at a different date.
Tax imposed on the transfer of ownership of property
Federal tax collected on the value of a persons property tax.
State tax collected on the property left by a person to his or her will.
Charged on items you purchase.
Based on the value of owned property, live land, buildings, or houses.
Taxes for your local area.
Based on how much money you earned annually.
Based on how much money you earn each year.
Is about people changes in habits, eating, clothing, fitness. Geographic trends are people moving from state to another state.
Sent with your resume and the letter highlights your interest of a particular job, highlights abilities, education and achievements
Mostly contributed to by you and a pension plan is mostly contributed to by your employer
Before taxes and deductions are taken out.
Is after taxes and deductions are taken out by the employer.
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