Employment Income
Compensation that an employee receives from an employer after retirement.
What is Pension
A benefits program is available jointly through your employer and the U.S. government. Covers 90% of all American jobs. President Franklin D. Roosevelt started this program in 1935.
What is Social Security
Carlos just got a new job as a financial advisor. Human Resources said the job pays $52,400. What will be Carlos weekly salary?
What is $1007.69?
Taxes that are based on the amount of taxable income that you earn.
What is income tax?
A real estate salesperson receives this compensation on the sale of each home expressed as a percentage.
What is the commission?
The nation’s largest health insurance program for people 65 years of age and older and some disabled people under age 65.
What is Medicare?
Josie is a manager at a local fast food restaurant. Her regular hourly wage is $14.74. If she regularly works 40 hours per week, calculate the following her annual pay?
What is $30659.20?
Government agency that collects federal taxes.
What is Internal Revenue Service (IRS)?
Often the overtime rate is 1½ times the regular hourly rate, called time-and-a-half overtime. Sometimes the overtime rate is two times the hourly rate called .....
What is double-time pay?
The action or fact of leaving one's job and ceasing to work.
What is Retirement ?
Carl just got a new job as a banker. Human Resources said the job pays $52,400. What will be Carl’s daily salary?
What is $143.56?
The amount of money a worker takes home after deductions.
What is net pay?
Your total pay, which is the sum of your hourly pay and your overtime pay, before your deductions are called...
What is your gross pay?
A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker.
What is salary?
Courtyard Hospitality Travel pays its employees $16 per hour plus 7.5% commission on all trips booked. Valerie worked 20 hours last week and booked trips amounting to $2,650.
What is $518.75?
Janet is a banker who works as a musician on weekends. Here is part of her tax worksheet: wages from banking $38,295.47, wages from music jobs $9,310, interest $435.70, dividends $253.91, and royalties $1,118.61. What is Janet’s total income?
What is $49413.69?
Compare commission workers to people who are paid according to the number of items they produce. They are paid by production, rather than the length of time that it takes them to do the job. These employees are called ...
What is pieceworkers?
Perks offered to employees in addition to salary. The most common are medical, disability, life insurance; retirement benefits; and paid time off ... That's why it's important to consider as part of your total compensation.
What is (are) benefits?
Mark regularly works 20 hours per week at a local restaurant from Monday through Friday. He earns $14.25 per hour and receives double-time pay for working Saturdays. Last week he worked his regular 20 hours, and an additional 4 hours on Saturday. What will his total pay be for the week?
What is $399?
Barry’s gross pay per pay period is $315.27. He has the following deductions: Social Security tax 5.2%, Medicare tax 1.35%, and federal withholding tax $89.21. What is the total tax amount he will need to pay for this period?
What is $109.86?