Term
|
Definition
Income you receive from employment |
|
|
Term
|
Definition
Payment for work and is usually computed on an hourly, daily, hourly, or piecework basis |
|
|
Term
|
Definition
The lowest hourly wage employers can pay most workers by law |
|
|
Term
|
Definition
Wage based on a rate per unit of work completed |
|
|
Term
|
Definition
Payment for work that is expressed as an annual figure |
|
|
Term
|
Definition
Income paid as a percentage of sales made by a salesperson |
|
|
Term
|
Definition
Money paid for service beyond what is required |
|
|
Term
|
Definition
Money added to an employee's base pay |
|
|
Term
|
Definition
The payment and benefits received for work performed |
|
|
Term
|
Definition
A form of nonmonetary compensation received in addition to a wage or salary |
|
|
Term
|
Definition
Wages or salary before payroll deductions |
|
|
Term
|
Definition
Subtractions from your gross income |
|
|
Term
FICA (Federal Insurance Contributions Act) |
|
Definition
|
|
Term
|
Definition
Your gross income (plus bonuses, if you get them), minus payroll deductions |
|
|
Term
|
Definition
Earnings from sources other than work |
|
|
Term
|
Definition
Payments from financial institutions, businesses, and government to use customers' money |
|
|
Term
|
Definition
A government payment or benefit promised by law to eligible citizens |
|
|
Term
|
Definition
A federal program that provides income when earnings are reduced or stopped because of retirement, serious illness or injury, or death |
|
|
Term
|
Definition
A federal program that pays for certain health care expenses for older citizens and others with disabilities |
|
|
Term
|
Definition
A limitation that affects a person's ability to function in major life activities |
|
|
Term
|
Definition
A government program that pays certain health care costs for eligible low-income individuals and families |
|
|
Term
|
Definition
The Employee's Withholding Allowance Certificate that tells the employer how much tax to withhold from and employees paycheck |
|
|
Term
|
Definition
A Wage and Tax Statement that states the amount an employee was paid in the previous year. It also gives the amounts of income, Social Security, and Medicare taxes withheld from an employee's income during the year |
|
|
Term
|
Definition
An expense that can be subtracted from taxable income |
|
|
Term
|
Definition
A tax benefit that reduces the amount of income that is taxed |
|
|
Term
|
Definition
An amount you can subtract from the taxes you owe, if you are eligible |
|
|