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Chap 4 Unit 2 5th hr

Chapter 4/Unit 2

Allowance A reduction in your tax for each person you support
Deduction An amount subtracted from gross pay for a tax, a benefit or service or membership
Earnings Statement Your check stub, lists gross pay, deductions and net pay
Gross Pay Amount of salary earned
Net Pay Amount of salary earned after taxes have been deducted
Tax Money paid to State or National Treasury
Withheld Kept out
Created by: MarieElyn