Work & Employment
Occurs when a company undergoes restructuring or downsizing or goes out of business.
Laid off
is the federal law that requires you to withhold three separate taxes from the wages you pay your employees
FICA tax
the situation prevailing in a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers.
Perfect competetion
The lowest amount you can be paid by your employer
Minimum wage
any government system that provides monetary assistance to people with an inadequate or no income.
Social Security
is a public authority or government agency responsible for exercising autonomous authority over some area of human activity in a regulatory or supervisory capacity.
Government regulatory agencies
The total amount you make over a year
Salary
The following are common forms related to income taxes of different sorts.
W4, W2, 1040, 1090
To work a maximum of 30 hours a week
Part time job
is a bureau of the Department of Treasury that is tasked with the enforcement of income tax laws and oversees the collection of federal income taxes.
IRS
Fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee, especially to a manual or unskilled worker.
Wage
is the federal health insurance program for: People who are 65 or older. Certain younger people with disabilities.
Medicare