Employment & Taxes Vocabulary

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Across
  1. 2. Federal Insurance Contributions Act, amount deducted from an employee’s paycheck to contribute to Social Security and Medicare
  2. 5. Type of insurance that financially protects another person (called a beneficiary) if you pass away
  3. 8. Money withheld from an employee’s paycheck and used for federal, state, and local needs
  4. 9. U.S. government agency responsible for collecting taxes and enforcing tax laws
  5. 10. Tax form employees use to tell their employer how much federal income tax to withhold from their paycheck
  6. 13. A means of protection from financial loss by pooling risk
  7. 14. Tax form employers are required to send employees each year to report total annual salary or wages and amount of taxes withheld from their paychecks
  8. 17. Purchase or expense that reduces the overall amount of money earned as well as the amount that is taxable
  9. 18. A form of compensation in addition to a salary or wage including insurance, company perks, and employee rewards
  10. 19. Tax states charge on the money earned from working
Down
  1. 1. A set amount of money earned per pay period regardless of hours worked
  2. 3. Tax the federal government charges on the money earned from working
  3. 4. Total amount of money earned after taxes and deductions are taken out of an employee’s paycheck
  4. 6. Tax that pays benefits to retired people, disabled people, and dependents of workers who have died
  5. 7. Total amount of money earned before taxes and deductions are taken out of an employee’s paycheck
  6. 9. Any form of money, property, or services earned or received
  7. 11. A set amount of money an individual earns for work completed, usually by the hour
  8. 12. Tax that pays for health care for people over 65
  9. 15. Workforce environment in which short-term engagements, temporary contracts, and independent contracting is commonplace
  10. 16. A type of insurance that covers the cost of medical expenses