| A | B |
|---|
| Commission | fee that a salesperson receives upon completion of a sale |
| Dependent | person who relies on the taxpayer for financial support |
| Direct Deposit | wages are deposited directly into a depository institution account |
| Employee benefits | employers may offer employee benefits in the form of products or services taht add extra value for employees beyond earned wages |
| Employer contributions | the amount the employer has contributed to various employee benefits |
| Employment | agreement between an employer and employee |
| Form W-4 | form that determines the percentage of an emplyee's pay that will be withheld for federal taxes |
| Gross Income | amount of money earned before payroll taxes |
| Income tax | taxes paid to federal, state and local governments on the amount of money earned |
| Medicare | federal program whose main purpose is to help pay for health care for those over 65 |
| Net income | amount of money left once all deductions have been taken from gross income |
| Paper paycheck | check written to a worker in the amount of money earned |
| Payroll card | a reloadable debit card onto which a worker's pay is loaded |
| Payroll tax | taxes withheld or paid on your behalf by your employer |
| Pay Period | the regular schedule by which employers pay employees |
| Pay stub | outlines the deductions made to wages |
| Salary | fixed amount of money or compensation paid to an employee by an employer in return for work performed |
| Social Security | 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 |
| Tax liability | total tax bill |
| Unemployment insurance | source of income for workers who have lost their jobs through no fault of their own |
| Workers' compensation | state-sponsored system that pays monetary benefits to workers who become injured or disabled on the job |
