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Business Accounting and Bookkeeping
Aniya Konopelski
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☆☆☆☆☆Health Maintenance Organization
HMO stands for Health Maintance Organization. Basically an HMO lets you go to a small group of doctors and hospitals. But, if you go anywhere else you have NO COVERAGE.
it is the amount employers subtract from an employee's check each pay period.
a dollar amount that reduces the amount of taxable income...
Your employer would be able to give you the percentage amount that would be withheld from your pay for the total of all taxes on the 1000 amount.
Social security, medicare, federal income taxes, state income taxes, local income taxes, etc.
the amount of money you actually earn during a given pay period...
It is usually the most expensive healthcare choice but offers the most flexibility.
Knowing the difference will allow you to develop a realistic budget based upon your take-home pay.
it is a direct payment from the state to local government.:)
w-4
indirect tax
your educational background
a form used to calculate the amount of taxes a person must pay based upon income.
special circumstances that reduce a persons federal tax bill
A W4 form is an IRS or government form often provided to you by your employer. You would fill this form out so that your employer knows how much to withhold from your paycheck to put toward taxes.
