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Chap 4 Unit 2 5th hr
Chapter 4/Unit 2
| Question | Answer |
|---|---|
| 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 |