Across
- 3. Required contributions withheld from an employee’s paycheck and used for federal, state, and local needs.
- 5. an annual tax that a homeowner must pay on the assessed value of their house.
- 7. Non-cash or other compensation provided to an employee.
- 8. The total dollar amount of your federal or state income tax exemptions. This total is reduced from your taxable income.
- 9. Provides individuals with tax information about all other types of income that they received throughout the previous calendar year, outside of their regular wages or salary.
- 11. An employee’s “Wage and Tax Statement”, provided by their employer, stating the amount of money earned and taxes paid throughout the previous calendar year.
- 13. The right to exclude all or some income from taxation by federal or state governments.
- 16. A tax on earned income that supports the Social Security and Medicare programs (Federal Insurance Contributions Act).
- 21. As income increases, tax percentage increases.
- 22. tax that is levied on estates with values that exceed $11.7 million for 2021 and $12.06 million for 2022.
- 25. The form that you use to report your income, expenses, taxes paid and other pertinent tax information for both federal and state income taxes.
- 27. Includes any income that a person receives for work they have done.
- 28. As income increases, tax percentage decreases.
- 29. An amount of money that reduces the actual tax owed.
Down
- 1. Everything that an employer provides to an employee in exchange for working, including hourly wages/base salary, bonuses, benefits and perks.
- 2. Comes from investments and other sources which is unrelated to employment.
- 4. taxes charged on products purchased in stores and used to support public services. Can come from personal income tax, corporate income tax, sales tax, property tax and licensing fees.
- 6. A consumption tax imposed by the government on the sale of goods and services
- 9. The Federal Employment Eligibility Verification form, which must be completed by every newly hired employee in the United States.
- 10. The U.S. federal government receives the majority of its taxes from individual and corporate income taxes, also collects Social Security and Medicare payments.Does not levy a general sales tax, nor does it tax property.
- 12. The total amount of one’s income after payroll deductions are deducted.
- 14. The reduction of your taxable income and lowers the overall amount (base) you will be charged a tax on.
- 15. The total amount of your earned income and unearned income received in a year (before payroll deductions).
- 16. The Commonwealth of Virginia’s personal exemption worksheet, which all new employees working or living in Virginia must complete to tell the employer the correct amount of State Tax to withhold from their paychecks.
- 17. Used to calculate and file your federal income taxes
- 18. The Federal Tax Withholding Certificate that all new employees must complete to tell the employer the correct amount of Federal Tax to withhold from their paychecks.
- 19. Sums of money subtracted from your gross income for taxes, and benefits.
- 20. Regardless of income, the tax percentage remains the same.
- 23. taxes assessed on moveable items such as automobiles.
- 24. Required contributions to revenue, levied by the government on personal income and business profits or added to the cost of some goods, services, and transactions.
- 26. Any type of money, property, or services that you earn or receive.