TAXES
A federal payroll taxes deduction whether you work full-time or part-time and is a mandatory tax deduction.
What is F.I.C.A. taxes?
Deductions that an employees choose to have taken out of their paychecks for various benefits or contributions.
What iVoluntary Payroll Deductions?
The amount of pay remaining after all deductions have been taken out.
What is net pay?
Calendar days included in your paycheck.
What is pay period?
A unique code or number representing a specific person
What is Employee ID?
Taxes employees and employers pay on wages, tips, and salaries (i.e., federal, state, & local taxes)
What is payroll taxes?
Federal income tax, state tax, local taxes and F.I.C.A. are required to be taken from an employee's paycheck.
What is mandatory/involuntary deductions?
This displays on an employee's paystub as a date.
What is the Pay Date?
The nine digit listed on the paystub.
What is social security number?
Someone who gets hired to perform services and are compensated for their work.
What is an employee?
Taxes paid on wages and salaries of employees to finance social insurance programs like Social Security, Medicare, and unemployment insurance.
What is a payroll tax?
A tax deferred savings plan for retirement.
What is retirement plans (i.e., IRA, 401K)?
This displays on an employee's paycheck as the total amount of hours worked.
What is YTD hours?
A code that identifies a particular employee.
What is an employee ID?
Salary is a fixed amount you will get paid. This is determined when you get hired.
What is Salary?
Known as the Employee’s Withholding Certificate and used by employees in the United States to indicate their federal income tax withholding preferences to their employers.
What is a W4 form?
This pays a beneficiary in the event that an employee dis.
What is Life Insurance?
Typically displays payment for hours and work completed and a record of year to date earnings, taxes and deductions.
What is a paystub?
A person employed for wages and/or salaries.
What is an employee?
How often an employee receives their wages or salary from their employer. Common pay frequencies include weekly, bi-weekly (every two weeks), semi-monthly (twice a month), and monthly.
What is pay frequency?
This tax provides elders, survivors and disability insurance to citizens.
This provide benefits to an employee in an event they become completely disabled.
What is LTD (Long Term Disability)?
Calendar days included in a paycheck. Typically setup by the employer of when you will get paid.
A person or organization that employs people.
What is an employer?
The total amount of money an employee earns before any deductions are taken out, such as taxes, insurance premiums, and retirement contributions.
What is gross pay?