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14 Cards in this Set
- Front
- Back
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Medicare |
A US government health care program for persons 65 of age or older. |
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Social Security |
A US government program that provides money to people that can not work. |
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FICA |
A tax imposed on both employer and employee be the US government to fund government programs such as Social Security and Medicare. These program provides assistance to retirees, disabled, and children of deceases workers. |
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Net Pay |
The remaining amount of an employees gross pay after deductions |
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Gross Pay |
Amount earned before taxes are withheld. |
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Bi-Weekly |
Every two weeks |
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Allowances |
The amount of income on which you do not have to pay taxes. |
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Exemptions |
Don't have to pay taxes, such as churches and kids. |
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Salary |
A fixed regular pay, not necessarily based on number of hours worked as opposed to services provided. |
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Wage |
Payment to primarily and labor employee based on numbers of hours worked. |
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Sick Leave/Personal Leave |
Employee will still get paid even if they are not working to take care of health or personal matters. |
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Direct Deposit |
An electronic payment directly to employees account from employers. |
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Checking account |
A bank deposit against which checks can be drawn by the depositor. |
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Saving Account |
Design to put money away for an emergency. |
