Unit 4 Vocab: Living with Taxes

Edit Answers
12345678910111213141516171819202122232425
Across
  1. 4. tax based on profit from the sale of property or an investment
  2. 5. Tax collected by a state to fund services and programs
  3. 8. The total amount of money brought in by a company's operation, over a certain period of time
  4. 9. Tax levied by the IRS based on annual earnings
  5. 11. Withdrawal from one's occupation
  6. 13. A retirement plan offered by public schools and charities
  7. 15. Individual Retirement Accounts (Collects taxes)
  8. 16. An expense that can reduce one's annual tax
  9. 17. The assets and earnings of a deceased person that are allocated according to their will
  10. 19. Tax determined on the net value of the estate of a deceased person before distribution to heirs
  11. 20. Mandatory payment
  12. 22. income remaining after deduction of taxes, mandatory charges, and spending on necessary items
  13. 23. Tax on receipts
  14. 24. A child under the age of 19 or under 24 if a full-time student, or any age if permanently and totally disabled
Down
  1. 1. A type of retirement plan where employers promise to pay a defined benefit to employees for life after they retire
  2. 2. Government-run insurance that helps those with low income at any age
  3. 3. A special account that allows you to set aside money for out-of-pocket health care costs
  4. 5. Government system that provides income for those in need
  5. 6. Income remaining after taxes and mandatory payments are taken out
  6. 7. An IRA helps individuals save for retirement, allowing tax-deferred growth on investments
  7. 10. Able to not pay your taxes
  8. 11. no tax is owed on the growth upon distribution
  9. 12. Annual tax based on one's income
  10. 13. A profit-sharing plan that allows employees to contribute a portion of their wages to individual accounts
  11. 14. A document that determines how much should be withheld from your paycheck for federal income taxes
  12. 18. A form that contains one's earnings and how much tax is owed on that amount
  13. 19. an indirect tax on specific goods, services, and activities
  14. 21. Government-run insurance that provides health insurance to those 65+ and those with disabilities
  15. 25. tax that is imposed on land, buildings, cars, etc.