Paychecks
When you receive 52 paychecks per year.
Weekly paycheck
Insurance premium
the monthly cost you pay for insurance.
What is it called when you claim someone on your taxes?
a dependent
extra hours accrued outside of regular hours.
overtime hours
When you receive a paycheck every other week, 26 per year.
Biweekly paycheck
the written insurance contract.
Insurance Policy
determined by your annual gross salary. You can look up a tax table online for your tax rate (it changes from year to year). This money is used for federally funded projects and services.
federal taxes
a set amount of pay for each hour of work.
hourly rate
receive a paycheck once a month; 12 paychecks a year. The employer will pay the employee on the same day each month.
Monthly paycheck
the amount of money you must pay before the insurance company shares the cost.
Insurance Deductible
are also determined by your annual gross salary. This money is used for projects and services within the state, such as road maintenance, school funding, etc.
state taxes
the specific amount of hours the employer requires the employee to work, whether they are full-time or part-time.
regular hours
receive a paycheck twice a month; 24 paychecks per year. The employer will pay the employee on the same date each month, usually on the 1st and 15th or the 15th and 30th.
Semi-monthly paycheck
the portion you pay for health services and your insurance agency pays the rest. This may or may not include your deductible. This is all dependent on the terms of your insurance plan.
Co-pay/co-insurance
are an assessment by a state, county or municipality to fund public service (i.e. education, garbage collection, sewer maintenance).
local taxes
two times the hourly rate
double time
electronic deposit of the employee's paycheck into their bank account on payday.
Direct deposit
something a person or company owes, usually a sum of money.
Insurance Liability
The name of the form you receive from your employer before filing taxes.
W2
gross pay
the sum of your hourly pay and overtime pay.