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10 Cards in this Set
- Front
- Back
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Paid health insurance, paid vacations, paid holidays and other valuable "extras" your employer may offer you in addition to your wages
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Fringe benefits
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The TOTAL amount of your pay, BEFORE tax deductions
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Gross pay
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A type of wage where you earn a percentage (%) of what you sale. Example: Car Salesman
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Commission
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A tax that is withheld from your gross pay that goes to Medicare and Social Security
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FICA tax
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A type of wage based on a yearly amount, NOT an hourly wage. Example: a teacher
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Salary
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A type of wage that you earn PER HOUR for the work you complete. Example: McDonald's employees
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Hourly Wage
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A retirement savings account
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Pension
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Taxes, insurance and other items SUBTRACTED from your gross pay.
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Deductions
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A type of wage that is paid to workers who produce individual items. Example: A seamstress who makes jeans
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Piece rate
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Your "take home" paycheck
(Gross pay - deductions = Take home pay |
Net pay
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