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Definition
| a written order to a bank to pay the amount stated to the person or business on the check. |
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| the amount of money deposited in an account. |
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| the message section of a letter. |
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| the process of matching your checkbook register with your bank statement. |
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| a legally enforced agreement between 2 or more people. |
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| an attempt to influence public officials to pass laws and make decisions to benefit a specific profession. |
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| provides part or full-time temporary job placement. |
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| a group of people who work in the same or similar occupations, organized for the benefit of all employees in these occupations. |
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| the process of negotiating a work contract for union members. |
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| an insurance program that pays benefits to workers and/or their families for injury. |
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| aka- flat tax. taxes that the rate stays the same regardless of income. |
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| something of value in exchange for something else of value. |
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Definition
| the total social security and medicare tax, including employer matching contribution, paid by people who work for themselves. |
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Definition
| a person who lives with you and for whom you pay more than half of his or her living expenses. |
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| a computer program that sorts data for easy search and retrieval. |
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Definition
| the lowest wage that an employer may pay an employee as established by law |
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Term
| certificate of deposit (CD) |
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Definition
| a time deposit where a fixed rate of interest is earned for a specified length of time. |
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Definition
| cash allowances awarded to students to pay education costs. |
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Definition
| a place at your bank available to store valuable items or documents. |
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Definition
| your tax-filing group based on your marital status. |
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Definition
| a job in which two people share one full-time position. |
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Term
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Definition
| contact with the employer after the interview but before hiring occurs, to remind the employer of who you are and possible improve your chance of getting a job. |
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Definition
| a set of goals for spending, saving, and investing the money you recieve. |
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Term
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Definition
| a collection of investments. |
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Term
| Annual Percentage Yield (APY) |
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Definition
| the actual interest rate an account earns stated on a yearly basis, |
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Term
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Definition
| a form of educational funding that doesn't have to be repaid and usully doesn't require students to maintain certain standards. |
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Term
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Definition
| an endorsement that transfers the right to cash the check to someone else. |
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Term
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Definition
| the signature of the payee written exactly as his or her name appears on the front of the check. |
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Term
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Definition
| an examination of your tax return and records by the IRS. |
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Term
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Definition
| gross income minus taxes. |
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Term
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Definition
| the employee's withholding allowance certificate used to make allowances for tax withholding purposes. |
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Term
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Definition
| to instruct and employer not to withhold federal income taxes from your wages. |
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Term
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Definition
| by january 31 of the year following the year you were employed, an employer must mail you a W-2, showing your total wages and withholdings while you were employed. |
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Term
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Definition
| reductions in the amount of tax withheld from paychecks. |
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Term
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Definition
| when deductions are subtracted from gross pay. |
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Term
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Definition
| when someone is entitled to a retirement account balance when employment is terminated. |
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Term
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Definition
| items of value that a person owns. |
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Term
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Definition
| when a signature is verified by a notary public. |
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Term
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Definition
| a check guaranteed to be covered by sufficient funds on deposit. |
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Term
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Definition
| money that is automatically deducted from your account. (i.e. safe deposit box fees etc.) |
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Term
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Definition
| the level of income tax a person has to pay. based on income levels. (lower income=lower tax, higher income= higher tax) |
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Term
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Definition
| a yearly publication that public corporations must provide to shareholders to describe their operations and financial conditions. |
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Term
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Definition
| taxes that decrease as the base increases. (poor pay more, rich pay less) |
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Term
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Definition
| a base amount of income not subject to tax. |
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Term
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Definition
| the annual payment of an allowance or income. |
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Term
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Definition
| money that goes to the government. |
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Term
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Definition
| a contract to repay borrowed money with interest at fixed intervals. |
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Term
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Definition
| internationally redeemable draft purchased in many denominations from a bank or travelers aid company. |
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Definition
| an arrangement where employees set their own work schedules. |
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Term
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Definition
| reduction in the amount of tax. |
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Term
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Definition
| intentional avoidance tax payment. (get audited) usually wrongly declaring taxable income. |
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Term
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Definition
| debts assumed by a business entity. |
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Term
| cooperative education (co op) |
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Definition
| students attend classes part of the day and then go to a job that provides supervised field experience. |
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Term
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Definition
| a risk management technique that mixes a wide variety of investments within a portfolio. |
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Term
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Definition
| money left over to spend when taxes and required deductions are removed from income. |
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Term
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Definition
| an agreement between an employer and an employee where a specified amount of the employee's pay is invested in stocks, bonds, or other investments. |
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Term
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Definition
| a tax that increases as the amount of income increases. (rich pay more, poor pay less) opposite of regressive. |
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Term
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Definition
| the amount by which a persons assets exceed their liabilities. |
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Term
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Definition
| a contractual agreement, to buy or sell something for a pre-determined price in the future. |
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Term
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Definition
| a savings account that offers larger interest for larger deposits. |
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Term
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Definition
| a stock that trades at a relatively low price. |
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Term
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Definition
| sheet with rows and columns for recording financial data. |
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Term
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Definition
| a person's total income before removing taxes and deductions. |
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Term
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Definition
| committing money or capital to gain a financial return. (i.e. stocks and bonds) |
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Term
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Definition
| the risk that an investor could lost their capital. |
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Term
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Definition
| an investment company that offers new shares and buys existing shares back at the request of a shareholder and uses its capital to invest in diversified securities of other companies. |
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Term
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Definition
| a check that has VOID written on it by the endorser. |
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Term
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Definition
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Term
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Definition
| a rule that states that to find the number of years required to double your money at a given interest, you divide the compound return by 72. result=# of years. ex- 12% interest/72 years= 6 years |
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Term
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Definition
| reduction in the amount income that can be taxed. |
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Term
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Definition
| would benefit someone who spends a lot of money on medicare, donations, or other deductible expenses! this is a deduction from a tax payers adjusted gross income. |
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Term
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Definition
| signature on the back of a check that specifies the transfer under SPECIFIC conditions. (i.e. "for deposit only" so can't be cashed) |
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Term
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Definition
| the tax rate is a flat tax for everyone. (rich and poor pay the same) |
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Term
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Definition
| check drawn from a bank on its own funds and signed by the banker's cashier. |
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Term
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Definition
| investments intended for a short period of time. (usually a year or less) (i.e. checking accounts or short-term CDs) |
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