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25 Cards in this Set
- Front
- Back
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benefits |
forms of pay other than salary/wages |
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commision |
a set fee/percentage of a sale to an employee instead of or in addition to salary or wages |
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disposable income |
money available to spend or save after taxes are paid |
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dividends |
portion of a corporation's profits distributed to stock holders |
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entreprenueur |
person who takes the risks of being self-employed and own a business |
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excise taxes |
taxes charged on purchases of specific things |
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exemption |
a person claimed as a dependent on tax returns; property that a debtor in bankruptcy does not have to forfeit to pay of auditors |
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form W-2 |
form used to report taxable income a worker received during the calendar year |
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gross pay |
total salary/wages earned during the pay period |
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in-cash payments |
money in form of check, debit, or other direct payments given to a person needing assistance |
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in-kind payments |
payments made indirect on a person's behalf |
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medicare tax |
a tax that pays for med of retired |
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minimum wage |
lowest pay rate allowed by law for hourly work |
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net pau |
the amount of your paycheck after deductions |
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overtime pay |
pay received for hours worked in addition to regular hours |
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personal leave |
paid time away from work for personal reasons |
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profit-sharing plan |
benefit whereby employees may share profits of business |
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public goods |
government provided goods/services paid for by taxes |
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retirement plan |
account into which employees put portion of earnings for retirement |
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sales tax |
taxes levied on consumer purchases of goods and services |
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sick leave |
paid time away from work to due to illness |
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social security tax |
a withholding tax to provide old-age, survivor, and disability insurance |
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transfer payments |
money/benefits from local, state, or fed. governement |
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unearned income |
money received from sources other than working |
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use taxes |
taxes based on use of things provided by the government |
