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Earning income

TermDefinition
Associate Degree an undergraduate academic qualification awarded by community colleges, junior colleges, or online universities that typically requires two years of full-time study and 60 course credits
Bachelors Degree an undergraduate academic credential awarded by colleges and universities upon completing a course of study that typically lasts four years
Benefits an advantage, profit, or helpful effect gained from something
Compensation the total amount of money, goods, or benefits given to someone in exchange for work, services, or as payment for a loss, injury, or damage
Doctorate Degree the highest academic level you can earn in a specific discipline or profession
FICA FICA is a mandatory U.S. federal payroll tax that funds the Social Security and Medicare programs
Gross Income the total money earned by an individual or a business before any taxes, deductions, or operating costs are subtracted
Income Tax Income tax is a mandatory financial charge levied by governments on the earnings of individuals and businesses
College Major A college major is your primary specific field of study that makes up about one-third to one-half of the classes you take to earn a bachelor's degree
Masters Degree a postgraduate academic qualification that you earn after completing advanced study in a specific professional or academic field following a bachelor's degree
Minimum Wage $7.25 per hour
Payroll Deduction amounts withheld from an employee's gross pay to cover taxes, benefits, and other required or chosen obligations
PTO Paid Time Off,
Salary a fixed, periodic amount of compensation paid by an employer to an employee for work performed
Wage financial compensation paid by an employer to an employee in exchange for work or services
Created by: cgalbraith32
 

 



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