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A1C12
Accounting 1 Chapter 12
| Term | Definition |
|---|---|
| employee earnings record | a business form used to record details affecting payments made to an employee |
| Medicare tax | a federal tax paid for hospital insurance |
| net pay | the total earnings paid to an employee after payroll taxes and other deductions |
| pay period | the period covered by a salary payment |
| payroll | the total amount earned by all employees for a pay period |
| payroll register | a business form used to record payroll information |
| payroll taxes | taxes based on the payroll of a business |
| salary | the money paid for employee services |
| social security tax | a federal tax paid for old-age, survivors, and disability insurance |
| tax base | the maximum amount of earnings of which tax is calculated |
| total earnings | the total pay due for a pay period before deductions |
| withholding allowance | a deduction from total earnings for each person legally supported by a taxpayer including the employee |
Created by:
mrs226
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