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Paycheck Terms

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  • State Tax
    Our Definition: Money taken out of our paychecks to pay State taxes
  • Year-to-date
    Our Definition: Tells us how much money we have made, and taxes that have been taken, from the start of the year to now.
  • Local Tax
    Our Definition: Taxes taken from our paycheck by the towns we work in.
  • Overtime
    Extra time you work. Usually get paid time and a half- they give you 1.5x your normal pay rate.
  • Social Security
    Our Definition: Money given to us by the government after retirement or if someone has a disability that affects their ability to work.
  • Pay Period
    The period of time an employee worked and is being paid for. How many days/weeks are counted in the pay check.
  • Federal Tax (FICA)
    Our Definition: Money taken out of our paychecks to pay federal taxes
  • Regular Hours
    The normal hours an employee is expected to work.
  • Name of Employer
    This is the name of the company a person is working for.
  • Net Pay
    Our Definition: The money we get when we cash a check.
  • Employee Name
    Name of the person who worked and is being paid.
  • Social Security Number
    The eight digit number assigned to all US Citizens used to track wages and qualify for Social Security
  • Pay Date
    The day the Paycheck was given to the employee.
  • Gross Pay
    Our Definition: The money we make before taxes are taken out.
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