Examlex
Which of the following investments reduces your taxable income?
Form 4070
A form used by employees to report their tips to their employer.
FICA Withholding
The process of deducting Social Security and Medicare taxes from employees' paychecks, as mandated by the Federal Insurance Contributions Act.
Federal Income Tax
The annual income of individuals, corporations, trusts, and other legal entities is subject to a tax imposed by the IRS.
Monthly Schedule Depositor
A designation for businesses that are required to deposit employment taxes on a monthly basis, typically when their tax liability in a lookback period exceeds certain thresholds.
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