Tax
What is a State Income Tax?
The state you are living in will also tax your income.
What is the average cost an employee contributes for a single and family health coverage?
$6,026
What is income?
the payment people receive for working and comes in the form of wages.
What is Federal income tax?
The tax is paid to the federal government
What is the rate that everyone's wages are taxed at for FICA-Social Security?
6.2 percent
What is a salary?
a fixed regular payment based on an agreed amount between the employer and the employee.
What is the rate that everyone's wages are taxed at for FICA-Medicare?
1.45 percent
What is a deduction?
Any amount of money subtracted from your paycheck
What does SDI stand for?
State Disability Insurance
What is net pay?
an amount you receive after all deductions are taken from your total earnings.
What does FICA stand for?
Federal insurance contributions act.
What is a not paid salary?
It doesn’t include overtime.