Getting Paid
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Commission | A fee that a salesperson receives upon completion of a sale
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| Dependent | A person who relies on the taxpayer for financial support
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| Direct Deposit | Wages are deposited directly into a depository institution account
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| Employee Benefits | Employers may offer employee benefits in the form of goods or services that add extra value for employees beyond earned wages
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| Employer Contributions | The amount the employer has contributed to various employee benefits
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| Employment | Agreement between an employer and employee
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| Form W-4 (Employee's Withholding Allowance Certificate) | The form that determines the percentage of an employee's pay that will be withheld for federal taxes
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| Gross Income | Amount of money earned before payroll taxes
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| Income Tax | Taxes paid to federal, state and local governments on the amount of money earned
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| Medicare | A federal program whose main purpose is to help pay for health care for those over 65
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| Net Income | Amount of money left once all deductions have been taken from gross income
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| Paper Paycheck | A check written to a worker in the amount of money earned
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| Payroll Card | A reloadable debit card onto which a worker's pay is loaded
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| Payroll Tax | Taxes withheld or paid on your behalf by your employer
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| Pay Period | The regular schedule by which employers pay employees
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| Pay Stub | Outlines the deductions made to wages
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| Salary | Fixed amount of money or compensation paid to an employee by an employer in return for work performed
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| Social Security | A federal government program that funds retirement accounts, financially supports citizens who have experienced profound disability, the premature death of a parent ( if under the age of 18 ), or the premature death of a spouse in a family with children
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| Tax Liability | Total tax bill
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| Unemployment Insurance | A source of income for workers who have lost their jobs through no fault of their own
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| Workers' Compensation | A state-sponsored system that pays monetary benefits to workers who become injured or disabled on the job
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Created by:
pettijal
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