Personal Taxes

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Across
  1. 6. gift made by an individual or an organization to a nonprofit organization, charity or private foundation
  2. 7. Deduction portion of income which is not subject to tax and can be used to reduce a tax bill
  3. 10. eligible expenses individual taxpayers can claim on federal income tax returns which decrease their taxable income
  4. 12. income which results from the personal labor or service of an individual
Down
  1. 1. Income income which is not gained by labor, service or skill
  2. 2. direct tax levied on income of a person
  3. 3. total amount of tax debt owed by an individual, corporation or other entity to a taxing authority such as the Internal Revenue Service (IRS)
  4. 4. form the individual submits to a federal, state or local taxing agency to report income, calculate and pay taxes
  5. 5. savings on a taxpayer’s liability
  6. 8. range of incomes subject to a certain income tax rate
  7. 9. amount of money a taxpayer can subtract from taxes owed to the government
  8. 11. deduction which lowers a person’s tax liability by lowering taxable income