One Way to Be Ready for What Your Instructor Has

question 15

Multiple Choice

One way to be ready for what your instructor has to say in class is to

• A) research the topic online during the lecture.
• B) use the Cornell method to take notes.
• C) complete the assigned reading before class.
• D) sit near friends so you can discuss the readings.

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Definitions:

Percentage Method

A way of calculating withholding tax on an employee's wages based on predefined percentage rates.

Withholding Allowances

Claims made by employees on Form W-4 to reduce the amount of federal income tax withheld from their paychecks, based on their expected tax deductions and credits.

Withholding Per Pay Period

The amount of income tax an employer deducts from each paycheck, sent to the IRS on the employee's behalf, impacting the amount of potential refund or tax due.

Payroll Taxes Deposits

Payments made by employers to the IRS or other tax authorities for taxes withheld from employees' wages, including Social Security and Medicare taxes.