careers
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
