Business English Site header

Financial Terms/Vocabulary for ESL | Topic: Taxes, Tax-related vocabulary 2

(Choose the best response for each one)

1. He is _________________ ( = considered) to be self-employed.

2. You can give _________________ $13,000 yearly without having to pay the "gift tax".
  up to

3. Your "_________________ income" refers to all your income from taxable sources, before any exemptions, deductions etc.

4. You will have to pay a 10% penalty. = a 10% penalty will be _________________.
  taken off

5. To deduct = To _________________

6. The amount of your income credit depends __________________ your income level.

7. Yes, you would be __________________ to make this deduction. ( = you can make this deduction legally)

8. The fastest way to file your tax return is __________________.

9. You cannot __________________ ( = take) a deduction for contributions to a traditional IRA.

10. This limit can be carried _________________ to future years. ( = can be used in future tax returns)

Check answers


(c) 2007-2016 (a division of unless otherwise stated. REPOSTING ANY OF OUR CONTENT ONLINE IS NOT ALLOWED. Please see our content policy before sharing our content.