the amount you earn before taxes and other payroll deductions

the amount subtracted from gross pay, which results in your net pay

a one-year period that governments or companies use for financial reporting

the total amount of debt a country owes to companies and other countries as a result of deficit spending

a tax on the purchase of goods or services in the form of sales tax, excise tax, and other special taxes

a tax on goods and services that goes to a state or local government

a tax on a certain goods that aren‘t typically considered a necessity; sometimes called a luxury tax

a fixed annual amount earned by an employee, typically paid weekly, biweekly, or monthly

money earned on a regular basis with little or no effort required to maintain it

money paid by the hour and for an agreed number of hours per week; especially for unskilled or manual labor

tax paid out by anyone who earns an income

the income ranges in which tax rates apply

the total tax a person or business has to pay

a report that a taxpayer has to submit annually to the government and is used to determine a person‘s tax liability

tax day usually falls on

the dollar amount people can subtract from their income before the tax is calculated

a special tax form to report certain types of income or deductions

an amount of money a taxpayer can subtract from the taxes they owe

an official IRS inspection of a tax return to make sure the income and deductions are accurate

a tax based on the market value of owned assets

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