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Federal Taxes
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Published on Jun 02, 2016
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PRESENTATION OUTLINE
1.
Federal Taxes
Calysta Rodriguez, Period 1
Photo by
Philip Taylor PT
2.
Tax Withholding
The government taking money out of your paycheck before you receive it
Photo by
Tax Credits
3.
Tax Return
Statement of income and deductions, Deadline April 15th
Photo by
401(K) 2013
4.
Taxable Income
A person's total income not including exemptions and deductions
Photo by
efile989
5.
Personal Exemptions
The amount you subtract from your total income
Photo by
photosteve101
6.
Deductions
The amount you subtract from your total income
Photo by
Alan Cleaver
7.
Social Security
Taxes that go to Social Security Admin EX: funding old-age, survivors, and disability
Photo by
401(K) 2013
8.
Medicare
National health insurance program that helps pay for health insurance for people over 65
Photo by
401(K) 2013
9.
Medicaid
Health care program that assists low-income families EX: Medicaid paying for medicine
Photo by
Images_of_Money
10.
Unemployment Tax
Pays for insurance policy workers that are laid off
Photo by
clementine gallot
11.
Estate Tax
A tax on the property of someone who had died
Photo by
Images_of_Money
12.
Gift Tax
Tax on money or property that one person gives to another
Photo by
CarbonNYC [in SF!]
13.
Tariffs
Taxes on imported goods coming to our country EX: fruits, veggies
Photo by
Glyn Lowe Photoworks.
14.
Tax Incentive
Tax to encourage or discourage behavior EX. Alcohol and tobacco products
Photo by
Tax Credits
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