personal finace

what are taxes used for

to provide services and goods for the public

what needs to be mailed by january 31st

w-2 form

what is a w-2

shows how much money you earned and taxes withheld from your paycheck provided by your employer

what is medicare

healthcare insurance for ppl 65 and older

what is a dependent person

relies on taxpayers for financial support

what happens if you increase number of allowances

the more allowances you list the less you’ll pay in taxes on your check

what happened if you decrease the number of allowances

the less allowance the more taxes will be taken out of your check

1040

summarize key info on tax returns like filling status, income, and tax credits provided by accountant

what 2 taxes are part of FICA

social security and medicare