Instructions: Identify the Following Terms

question 93

Short Answer

Instructions: Identify the following terms.
Hong Kong

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Definitions:

Form W-2

The tax form that an employer must send to an employee and the IRS at the end of the year. It reports an employee’s annual wages and the amount of taxes withheld from his or her paycheck.

Taxable Income

The portion of an individual's or corporation's income used to determine how much tax is owed to the government in a given tax year.

Taxes Withheld

The portion of an employee's wages that is not included in their paycheck because it is sent directly to the government as tax payments.

P&P Manual

Stands for Policies and Procedures Manual, a document that provides guidelines and instructions for the operations of an organization.