Chapter 12-class Flashcards
money paid for employee services
salary
period covered by a salary payment
pay period
total amount earned by all employees for a pay period
payroll
total pay due for a pay period before deductions
total earnings; gross pay; gross earnings
taxes based on payroll of a business
payroll taxes
deduction from total earnings for each person legally supported by a taxpayer, including employee
withholding allowance
federal tax paid for old-age, survivors and disability insurance
social security tax
federal tax paid for hospital insurance
medicare tax
maximum amount of earnings on which a tax is calculated
tax base
business form used to record payroll information
payroll register
business form used to record details affecting payments made to an employee
employee earnings record
