Topic: Taxes, Tax-related vocabulary 3

Match each definition with the letter of one of the following:

a - deduction
b - itemized deduction
c - expenses
d - tax bracket
e - property tax
f - tax shelter
g - capital gains
h - garnishment
i - refund
j - tax liability

1. the amount of tax that you have to pay →

2. a list of deductions from taxable income →

3. money that you make from stocks, bonds, real estate, etc. →

4. in tax terms, the cost of maintaining property or generating income →

5. money that the government gives back to you when you pay too much in taxes, or have withheld too much from your salary →

6. when someone withholds your wages to pay off your debt to a third party →

7. an expense that you can subtract from your gross income →

8. a tax that has to be paid by owners of houses, etc. →

9. a financial arrangement which can reduce your tax liability →

10. a category of taxpayers, defined by how much money they make →

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