Commission
What is Commission?
An amount paid based on Percentage
What is the meaning of Dependent?
What is Someone who depends on you for care/
What is the meaning of Direct Deposit?
What is An automatic deposit of a paycheck without having a take a physical check?
Having a Job or Career and Responsibilities that go with it:
A. Payroll
B. Paper paycheck
C. Employment
D. Net Income
Correct Answer: What is Employment?
What is a government program that partially protects workers income when they become unemployed?
What is Unemployment Insurance?
How do you receive Commission?
You have to be assigned a task by government.
True or False
Employee's Withholding Allowance Certificate that shows the employer how much tax to withhold from an employee's check → Pay Stub
False
It should be → W-4 Form
How much money you make after deductions?
What is Net Income?
Define Gross Income
The total amount of income from wages before payroll deductions
True or False
The amount of tax owed is Employer Contributions
False
Answer Tax Liability
How do you find Commission?
Multiply your Commission rate by Commission base
What is total tax bill?
Tax Liability
What Tax is paid to the State, Federal, and Local Governments based on income earned over the past year?
What is Income Tax?
What is Payroll card?
Prepaid card instead of a paper check or direct deposit.
What is Regressive Tax?
They impose a higher tax rate on those with lower incomes
True or False
Commission is an automatic deposit of a paycheck without having to take a physical check to the bank.
Answer :An amount paid to an employee based on a percentage of the employee's Sales
income earned from self-employment, royalities, rent payments, unemployment compensation and other sources
what is 1099-MISC
True or False
Pay Stub is a Tax on wages and Salaries to Finance Social Security and Medicare Costs
False
Answer: Part of a paycheck that is retained by the employee as a record of apy
What is Payment given with a paper check with a paycheck stub attached?
What is Paper paycheck?
What is Money paid by Customers to those who provide services?
What is Tip?
A fee that a salesperson receives upon completion of a sale
What is Commission?
money subtracted from gross pay for required taxes, employee insurance, and retirement benefits
Deduction
A federal program of health insurance for persons 65 years of age and older
Medicare
What is Pay Period?
The Period covered by a Salary Payment
What is Workers Compensation?
A form of insurance paid by the employer providing cash benefits to workers injured or disabled in the course of employment.