U3-Earning L4 Getting Paid Flashcards
Increase vocabulary skills through repetition to increase comprehension of curriculum
fee that a salesperson receives upon completion of a sale
commission
person who relies on the taxpayer for financial support
dependent
wages are deposited directly into a depository institution account
direct deposit
products or services that add extra value for employees beyond earned wages
employee benefits
amount the employer has contributed to various employee benefits
employer contributions
agreement between employer and employee
employment
form that determines the percentage of an employee’s pay that will be withheld for federal taxes
W-4 (employee’s withholding allowance certificate)
amount of money earned before payroll taxes
gross income
taxes paid to federal, state and local governments on the amount of money earned and unearned
income tax
federal program whose main purpose is to help pay for health care for those over 65
Medicare
amount of money left once all deductions have been taken from gross income
net income
check written to a worker in the amount of money earned
paper paycheck
reloadable debit card onto which a worker’s pay is loaded
payroll card
taxes withheld or paid on your behalf by your employer
paytoll tax
regular schedule by which employers pay employees
pay period
outlines the deductions made to wages
pay stub
fixed amount of money or compensation paid to an employee by an employer in return for work performed
salary
federal government program that funds retirement accounts, financially supports citizens who have experienced profound disability, the premature death of a parent(if under 18), or the premature death of spouse in family with children
Social Security
total tax bill
tax liability
source of income for workers who have lost their jobs through no faulty of their own
unemployment insurance
state-sponsored system that pays monetary benefits to workers who become injured or disabled on the job
Workers’ compensation
