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income and texes

TermDefinition
Bi-weekly occurring every two weeks
Dependent relient on something or somebody
direct deposit the electronic transfer of a payment directly to the recipient
earned income money you work for
employee someone who works for you and you pay them
employer person or organization that employs people
exemptions the process of being free or in the process
federal income tax Individuals and corporations are directly taxable, and estates and trusts may be taxable on undistributed income.
FICA mandates on taxes that include social security, medicare etc.
Fringe benefits an extra benifet supplementing a employees salary
Gross income the individuals total pay from his employer before taxes and deductions
Hourly wage rate of compensation
income tax tax leveled by a gov. directly on income
medicare tax tax deducted from the wages of every legal American worker
net income an individual's income after taking taxes and deductions into account.take home pay
Created by: cooperg8
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