careers

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net income

If Miss Patty paychecks income was $350 and her total payroll withholdings were $85. What is this an example of?

= $175

If Miss Patty's income was $350 and her payroll withholdings were $85

medicare (FICA)

elderly or disabled people; help pays medical bills

net income

gross-deductions=

gross income

hours worked x wage=

payroll withholding

items deducted from gross pay 1. federal withholding 2. state withholding 3. FICA

social security (FICA)

money that can help elderly people to buy anything

personal information

name, social security, address

paycheck

paper check with stub least secure payment method because the employee is responsible for handling the paycheck

form W-4

percentage taken out for taxes

paycheck

pro: touch and feel payment con: lost or stolen easily

I-9

prove that you are legally in the united states

= $90

Miss Patty paycheck worked at Terrific Tacos for $6.00/hour for 15 hours a week

FICA

Federal Insurance Contributions Act

gross income

Miss Patty paycheck worked at Terrific Tacos for $6.00/ hour for 15 hours a week. What is this an example of?

year-to-date

accumulated deductions for the year

gross income

amount of pay earned before deductions are taken out.

form W-2

amount of taxes in the previous year

taxes

amount the government takes off of your paycheck

net income

take home pay

withholding taxes

the amount required by law for employee's to withhold from earned wages to pay taxes

pay period

the length of time for which an employee's wages are calculated


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