Economics Unit 4 Vocab

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Across
  1. 4. The amount of income left for spending or investing after paying necessary costs
  2. 7. An expense used to reduce an overall tax payment
  3. 9. A tax excised by the state government
  4. 10. A form that determines how much federal income tax should be withheld from a person's paycheck
  5. 13. An account for retirement savings that offers tax breaks to encourage users to invest income
  6. 17. A tax taken from an individual's income
  7. 18. A document submitted to the IRS that reports income,expenses, taxes, and other pertinent information
  8. 19. Income left over after paying all necessary costs
  9. 20. A person who depends on another for at least 50% support
  10. 21. A tax-funded program that provides health insurance for seniors and people with disabilities
  11. 23. A mandatory payment to a government
  12. 25. The money distributed to those mentioned in an individual's will after he dies
  13. 27. A savings plan for tuition and other educational expenses, including educational savings and prepaid tuition plans
  14. 28. A tax excised on top of the purchase of an item
  15. 29. The money generated from the sale of a good or service
Down
  1. 1. A tax on the sale of a specific good or service in order to correct negative externalities
  2. 2. An amount of money claimed by taxpayers for themselves, their spouses, and/or their dependents
  3. 3. A savings account to which employees contribute funds toward health-related expenses
  4. 5. A federally funded program that helps support retirees
  5. 6. A tax taken from the total taxable value of an individual's estate after his death
  6. 8. A tax taken from an investor's profit when it is sold
  7. 11. A retirement savings plan that allows users to invest a portion of their paycheck before taxes. The amount invested is sometimes matched by the employer.
  8. 12. When one chooses to permanently depart the workforce
  9. 14. A tax-funded program that provides health insurance to low-income families
  10. 15. A retirement savings plan for school and certain 501(c)(3) tax-exempt company employees that is often invested in annuity contracts
  11. 16. A tax taken based on the value of certain assets of an individual, such as houses or cars
  12. 22. An individual retirement account where taxes are paid on money entering the account, while all withdrawals are tax-free
  13. 24. A tax excised by the federal government
  14. 26. A retirement savings plan in which an employer contributes to a fund for an employee's retirement