Across
- 2. a special type of tax-favored retirement plan allowed for nonprofit entities(403(b) plans are only available to nonprofit organizations and government employers)
- 3. Health insurance coverage given to low income people and families.
- 4. Type of savings account that allows employees to put a portion of their pay towards health related costs
- 5. a special individual retirement account (IRA) where you pay taxes on money going into your account, and then all future withdrawals are tax free
- 6. Consumption tax imposed on the sale of goods and services
- 9. Profit gained from the sale of assets(like the resale value of a house)
- 11. A sum you can deduct from your taxable income to lower the the amount of taxes you owe
- 13. Tax on the market value of privately owned property
- 15. Money made through business(like selling a product)
- 17. Portion of a person income that can be spent, invested, or saved(includes things that are nonessential)
- 19. Assets a person owns(money and property)
- 21. tax-advantaged accounts that can be used to pay educational expenses from kindergarten through graduate school
- 22. Collected on the income of each individual earner
- 23. Money taken from your paycheck by the government to pay for government services.
- 26. Assets passed down to individuals after someone dies
- 27. A form employees fill out on their first day at a job. It lists information about the employee and their family so that the employer knows what to withhold and what deductions to give when filing taxes.
Down
- 1. Money given to those who have retired, lost a spouse, or to disabled workers
- 6. Tax taken by the state government
- 7. allows individuals to direct pre-tax income toward investments that can grow tax-deferred
- 8. a legislated tax on specific goods or services at the time they are purchased
- 10. Reduces the amount of income that is subject to income tax
- 12. a retirement savings plan that lets you invest a portion of each paycheck before taxes are deducted depending on the type of contributions made
- 14. Tax taken by and for the federal government
- 16. Someone you claim on your taxes because you financially support them (children/spouses/those who live with you)
- 17. Money left over after taxes and mandatory expenses have been subtracted
- 18. Public insurance program that provides health insurance for to those over 65, people with disabilities, or on dialysis/have kidney failure
- 20. an annual report to the IRS summarizing total income, deductions, and the taxes withheld by employers
- 24. Permanently leaving the workforce
- 25. Retirement plan that requires an employer to regularly contribute money to a worker's funds after retirement