| A | B |
|---|
| employee earnings record | A business form used to record details affecting payments made to an employee |
| Medicare tax | A federal tax for hospital insurance |
| net pay | The total earnings paid to an employee after payroll taxes and other dedutions |
| pay period | The period covered by a salary payment |
| payroll | The total amount earned by all employees for a pay period |
| payroll register | A business form used to record payroll information |
| payroll taxes | Taxes based on the payroll of a business |
| salary | The money paid for employee services |
| social security tax | A federal tax paid for old-age, survivors, and disability insurance |
| tax base | The maximum amount of earnings on which a tax is calculated |
| total earnings | The total due for a pay period before deductions |
| withholding allowance | A deduction from total earnings for each person legally supported by a taxpayer, including the employee |
| Businesses use payroll records to inform employees of their annual earnings and to | prepare payroll reports for the government. |
| A deductions from employee wages are recorded | in a payroll register. |
| Payroll taxes represent a | liability for an employer until payment is made |
| When an employee's earnings exceed the tax base, | no more social security tax is deducted |
| The amount on the employee earnings record used to determine if certain payroll taxes apply to an employee's earnings is | accumulated earnings |
| The Accumulated Earnings column of the employee earnings record | is the total earnings since the first of the year |
| Individual payroll checks are usually written on | a special payroll checking account |
| The withholding allowance of an employee affect | federal income tax withheld |
| Employee regular earnings are calculated as | regular hours times regular rate |
| All employees must report their withholding allowance on a | Form W-4 |
| Each employee name is listed in a payroll register along with | Employee number, marital status, withholding allowance |
| Employer regular earnings are calculated as | regular earnings time regular rate |
| Federal income tax is withheld from employee earnings | in all 50 states |
| The Accumulated Earnings column of the employee earnings record | is the total earnings since the first of the year. |
| Social security tax is calculated by | multiplying total earnings by 6.2% |
| The withholding allowance of an employee affect | federal income tax withheld |
| Some businesses deposit employee net pay directly to each employee bank account by using | EFT |
| Businesses use payroll records to inform employees of their annual earnings and to prepare | payroll reports for the government. |
| All deductions from employees wages are recorded in a payroll | register |
