Income Sources
What is a salary?
A fixed regular payment, typically paid on a monthly or biweekly basis, but often expressed as an annual sum.
What are health Insurance Benefits?
Coverage provided by an employer that pays for medical expenses.
What is job satisfaction?
The level of contentment employees feel about their work.
What is tuition?
The fee for instruction at a school or university.
What is income tax?
A tax imposed on individuals or entities based on their income.
What are commissions?
Payments to salespeople based on the amount of sales they generate
What is a retirement plan?
A financial arrangement designed to replace income upon retirement
What are work-life balance factors?
Elements that help employees manage their work responsibilities and personal life
What are textbooks?
Books used in the course of study, often required for assignments and exams.
What are payroll taxes?
Taxes withheld from employees' paychecks to fund Social Security and Medicare
What is passive income?
Earnings derived from rental property, limited partnerships, or other enterprises in which a person is not actively involved
What are paid vacation days?
Days employees can take off work without losing pay
What is company culture?
The beliefs and behaviors that determine how a company's employees and management interact.
What are fees?
Additional charges required for services provided by educational institutions
What is a tax refund?
The return of excess taxes paid to an individual by the government.
What are bonuses?
Extra payments made to employees as a reward for good performance or as an incentive.
What is a flexible spending account?
An account that allows employees to set aside pre-tax earnings for eligible health expenses.
What are growth opportunities?
Chances for employees to advance in their careers or gain new skills.
What is student loan debt?
Money borrowed to pay for education that must be repaid with interest
What is a W-2 form?
A tax form that an employer must send to an employee and the IRS at the end of the year, summarizing an employee's earnings and tax withholdings
What is freelance work?
Work done by individuals who are self-employed and not committed to a particular employer long-term.
What are professional development opportunities?
Programs or activities that improve employees' skills and knowledge.
What is job location?
The geographical setting of a job, which can influence commute times and lifestyle.
What are opportunity costs?
The potential benefits an individual misses out on when choosing one alternative over another.
What are deductions?
Expenses that can be subtracted from gross income to reduce the taxable income.