Income
Define Net Income...
Money earned from a job after income taxes are deducted.
If someone owrks 15 hours per week at one job and 20 hours per week at another do they work full time or part time?
They work two part time jobs but it is nearly full time hours.
What is an hourly wage?
Amount of money someone earns for doing 1 hour of work.
Define Gross Income...
Money earned from a job before income taxes are deducted.
If someone is paid every two weeks on Friday, their pay schedule is?
Bi-weekly
Example of tax deductions...
-Federal Withholding
- FICA Social Security
- FICA Medicare
- State Withholding