Income
Benefits
Taxes
Gross Pay
Net Pay
100
Forms of pay other than salary or wages.
What are benefits?
100
A set fee or percentage of a sale paid to an employee instead of or in addition to salary or wages.
What is commission?
100
Money available to spend or save after taxes have been paid.
What is disposable income?
100
A portion of a corporation's profits distributed to stockholders.
What are dividends?
100
A person who takes the risks of being self-employed and owning a business.
What is and entrepreneur?
200
Taxes charged on the purchase of specific goods and services.
What are excise taxes?
200
A person claimed as a dependent on a tax return.
What is an exemption?
200
A form used to report taxable income a worker received during the calendar year.
What is a W-2?
200
Total salary and wages earned during the pay period.
What is gross pay?
200
Money in the form of a check, debit card, or other direct payment given to a person needing assistance.
What are in-cash payment?
300
Payments made indirectly on a person's behalf or in a form other than money.
What are in-kind payments?
300
A tax that pays for medical care for retired persons.
What is Medicare?
300
Lowest pay rate allowed by law for each hour of work.
What is minimum wage?
300
The amount of your paycheck after deductions?
What is net pay?
300
Pay received for hours worked in addition to regular hours.
What is overtime pay?
400
Paid time away from work for personal reasons.
What is personal leave?
400
A benefit whereby employees may share in the profits of the business.
What is profit sharing?
400
Government-provided goods and services paid for by taxes.
What are public goods?
400
An account into which employees contribute a portion of their earnings for their retirement.
What is a retirement plan?
400
Taxes levied on a consumer purchases of goods and services.
What is sales tax?
500
Paid time away from work due to illness.
What is sick leave?
500
A withholding tax to provide old-age, survivors, and disability insurance.
What is social security tax?
500
Money and benefits received from local, state, or federal governments.
What are transfer payments?
500
Money earned from sources other than working.
What is unearned income?
500
Taxes based on the use of goods and services provided by the government.
What is use tax?
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