Unit 4 Economics

4. A person that can be claimed on your taxes
7. employee benefit that commits the employer to make regular contributions to a pool of money that is set aside in order to fund payments
8. The action of leaving ones job and ceasing to work, typically due to old age
9. A form filled out at the beginning of employment so that the company knows how much to withhold
11. A retirement plan for certain indiviuals
13. Medical insurance for low-income families or children with disabilities
14. A type of college saving plan
15. Medical insurance for an individual, typically an older person
17. income collected, typically by a business or state
18. a direct tax levied by the state based on income earned
21. taxable income that may be excluded from taxation under certain circumstances
22. replaces a percentage of your pre-retirement income based on their lifetime earnings
24. a tax paid on property owned by an individual or other legal entity
26. individual retirement arrangement
27. The right to exclude some/all income on taxes

1. taxes that are imposed on various goods, services and activities
2. individual retirement account
3. A series of forms filled out to the government showing how much you have earned
5. Income that is leftover after taxes are paid
6. tax levied by a government directly on income
10. A account that you put money into that can be taken out to pay for certain healthcare costs
11. a retirement savings and investing plan that employers offer
12. Amount of somebody's income that is left for spending
16. a profit from the sale of property or an investment
19. A type of tax paid directly to national government, NOT the state
20. Money typically acquired in the event of a persons death
23. Tax on your right to transfer property after death
25. a compulsory contribution to state revenue Income, particularly of a business of state