Everfi Employment and Taxes Quizlet Cards questions and answers Generally, the more education you receive, the higher your lifetime earnings will be. - correct answer True There is no relationship between the level of education received and lifetime earnings. - correct answer False Bachelor's Degree - correct answer a four year degree Associate's Degree - correct answer 2 year college degree from a community college, university, college, or technical school. The recipient of an Associate's Degree can then transfer the credits toward a 4 year Bachelor's Degree.Net Pay - correct answer Amount of income left after taxes and deductions have been taken out.Gross Pay - correct answer the total amount of an employee's earnings before deductions are taken out Possible tax deductions - correct answer Federal, State, FICA, Social Security Examples of taxes that are not deductions: - correct answer sales tax, property tax W-4 Form - correct answer Purpose is to inform employer of how much federal income tax to withhold from your paycheck.W-2 Form - correct answer Tells you how much you've made and hwo much you've paid in taxes in the last year.
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