| A | B |
|---|
| Taxes employers keep from you and give to government | Withholding Taxes |
| Subtractions from gross pay | Deductions |
| When you have a spouse and/or kids you have more... | Witholding allowances |
| Social security, disability, medicare, retirement benefits, and survivor benefits | FICA taxes |
| When your taxable income is lowered, for example by paying alimony | Income Adjustment |
| If a person pays too much in taxes all year long, they will receive one of these when they file their taxes | Refund |
| Hourly rate multiplied by hours worked | Gross Pay |
| After your Gross Pay is reduced by an Income Adjustment you have... | Adjusted Gross Income |
| Federal Income Tax is determined by ..... | Marital Status, Allowances, and weekly income |
| 80% of a dollar | 8 dimes |
| Decimal equivalent of 125% | 1.25 |
| A fixed amount of pay | Salary |
| Regular pay PLUS half of regular pay | Overtime pay |
| Deductions such as taxes, subtracted from Gross Pay equals | Net Pay |
| Another term for Net Pay | Take Home Pay |
| Pay equalling a certain percentage of what a salesperson sells | Commission |
| When you get paid by the amount of products you make | Piece Rate |
| A single number used to represent a group of numbers | Average |
| A payment which is voluntary | Tip |
| You only get paid a % of sales, but no hourly or salary pay | Straigt Commission |
| Benefits for workers who are disabled and unable to work | Disability Benefits |
| Hospital insurance for some disabled people and people over 65 | Medicare |
| Money for people who are at least 62 and have paid into Social Security | Retirement benefits (money) |
| When a person who received social security who has a living spouse | Survivor benefits |
