| A | B |
|---|
| wage | The amount of money paid for a specified quantity of labor. |
| salary | A set amount of money paid for a set period of time worked. |
| commission | Income paid as a percentage of sales made by a salesman |
| tip | Money paid by customers to those who provide services. |
| bonus | Money paid in addition to base pay, either as a reward for performance or as a share of profit. |
| paycheck | A form of payment to an employee |
| direct deposit | An employer deposits the employee’s paycheck dirctly into the authorized employee’s depository institution account. |
| payroll card | A prepaid card that is offered to employees as an alternative to paper paychecks or directly depositing wages into an employee’s depostiory institution |
| paycheck stub | This part lists the paycheck deductions as well as other important information. |
| pay period | The length of time for which an employee’s wages are calculated. |
| gross pay | The total amount of money earned during the pay period before deductions. |
| net pay | The amount of money left after all the deductions have been taken from the gross pay earned in the pay period. |
| deduction | Money subtracted from gross pay for required taxes, employee insurance, and retirement benefits. |
| federal withholding tax | The amount required by law for employers to withhold from earned wages to pay federal income taxes. |
| state withholding tax | The percentage deducted from an individual’s paycheck to assist in funding government agencies within the state. |
