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earning income
| Term | Definition |
|---|---|
| Associate Degree | An associate degree is an undergraduate academic qualification awarded by community colleges, junior colleges, or online universities after completing roughly two years of full-time study. |
| Bachelors Degree | an undergraduate academic credential awarded by a college or university upon successful completion of a course of study that typically lasts four years. |
| Benefits | an advantage, profit, or helpful effect gained from something. |
| Compensation | something given or received as payment for services or to make up for a loss, injury, or suffering. |
| Doctorate Degree | the highest level of academic credential that a person can earn from a university or college. |
| FICA | FICA stands for the Federal Insurance Contributions Act, a U.S. federal payroll tax used to fund Social Security and Medicare. |
| Gross Income | the total amount of money earned by an individual or a business before any taxes, deductions, or expenses are subtracted. |
| Income Tax | Income tax is a mandatory government charge levied on the financial earnings and profits of individuals and businesses. |
| College Major | your primary field of study and the main focus of your academic specialization while earning an undergraduate degree. |
| Masters degree | postgraduate academic qualification awarded by universities or colleges upon completion of a focused course of study that demonstrates advanced mastery or a high-order overview of a specific field of study or professional |
| Minimum Wage | the lowest hourly pay that an employer can legally pay a worker. |
| .Payroll Deduction | amounts subtracted from your total earnings (gross pay) to cover taxes, benefits, and other obligations |
| PTO | Paid Time Off |
| Salary | a fixed amount of money paid by an employer to an employee for work done. |
| Wage | a payment of money given to a worker for labor or services, usually calculated by the hour, day, or piece of work done. |