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Dr.McCaffery tells his class,"I am going to shine a stimulus up on the screen,and I'm only going to give you three seconds to memorize them.Go!" He shines a slide that has the following letters - "HBOIBMUSALOL" - on the screen.The student who wants to win the game by memorizing this most effective and most quickly will use what process to remember the 12 letters as "HBO - IBM - USA - LOL?"
Withholding Allowances
Claims made on a W-4 form that determine the amount of an employee’s income not subject to federal income tax withholding.
Percentage Method
A way to calculate taxes or other financial figures by applying a specific percentage rate to a base amount.
Federal Income Tax
An annual financial obligation enforced by the IRS on earnings of persons, businesses, trusts, and other legal entities.
FICA Taxes
Taxes collected under the Federal Insurance Contributions Act, funding Social Security and Medicare, deducted from employees' paychecks and matched by employers.
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