Gross Income
Benefits
Taxes
Net Income
Salary
100
Payments made indirectly on a person's behalf or in a form other than money.
What are in-kind payments?
100
Forms of pay other than salary or wages.
What are benefits?
100
Government-provided goods and services paid for by taxes.
What are public goods?
100
A form used to report taxable income a worker received during the calendar year.
What is a W-2?
100
Total salary or wages earned during the pay period.
What is gross pay?
200
A benefit whereby employees may share in the profits of the business.
What is a profit-sharing plan?
200
Money and benefits received from local, state, or federal governments.
What are transfer payments?
200
A tax that pays for medical care for retired persons.
What is Medicare tax?
200
The amount of your paycheck after deductions.
What is Net Pay?
200
A person claimed as a dependent on a tax return.
What is an exemption?
300
Taxes levied on concumer purchases of goods and services.
What is Sales tax?
300
Money available to spend or save after taxes have been paid.
What is Disposable Income?
300
A portion of a corporation's profits distributed to stockholders.
What are dividends?
300
Paid time away from work due to illness.
What is Sick leave?
300
Paid time away from work for personal reasons.
What is a personal leave?
400
Taxes based on the use of goods and services provided by the govenment.
What are Use taxes?
400
Taxes charged on the purchase of specific goods and services.
What are Excise taxes?
400
Money in the form of a check, debit card, or other direct payment given to a person needing assistance.
What are in-cash payments?
400
A person who takes the risks of being self-employed and owning a business.
What is an entrepreneur?
400
Pay received for hours worked in addition to regular hours,.
What is overtime pay?
500
An account into which employees contriute a portion of their earnings for their retirement.
What is a retirement plan?
500
Money received from sources other than working.
What is unearned income?
500
A withholding tax to provide old-age, survivor, and disability insurance.
What is Social Security tax?
500
Lowest pay rate allowed by law for each hour of work.
What is minimum wage?
500
A set fee or percentage of a sale paid to an employee instead of or in addition to salary or wages.
What is commission?
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