How many times are you paid in a year if you are paid semi-monthly?
12
52
24
7
What is a mandatory deduction?
food
401K
dental insurance
taxes
What are voluntary deductions?
federal taxes
local taxes
amount of money an employee has agreed to withhold
state taxes
the number of hours you must work in order to be full time
40
24
39
58
What is Federal tax?
401K
voluntary tax
tax you pay the federal government
state tax
The actual amount of money you “take home” is
net pay
taxes
gross pay
voluntary pay
A document showing an employee’s wages and deductions is an
pay stub
pay paper
pay roll
pay pal
A federal tax that supports elderly, disabled, or orphaned citizens.
disable tax
state tax
social security tax
old tax
Amounts of money withheld from an employee’s gross pay
Net pay
Pay roll deductions
gross pay
voluntary pay
: Services or privileges that an employer provides in addition to the employee’s salary or wages
benefits
insurance
statement
retirement
Set length of time (typically weekly, bi-weekly, or monthly) over which employee time is recorded and paid
pay stub
pay me
pay period
pay bills
Gross pay minus deductions and taxes
pay roll
bi- weekly
net pay
pay period
A sum of money paid regularly as a retirement benefit
benefit
insurance
pension
wages
A retirement savings plan to which contributions are made by the employee and employer and are invested
pension
F.I.C.A.
401 (k)
savings
