| INCOME | TAXES | PAYROLL | TAX FORMS | MISCELLANEOUS |
|---|---|---|---|---|
|
What is the set amount of money earned by an employee per year
Salary
|
What is the percentage of income taxed for Social Security
6.2%
|
What are 3 ways an employer may use to pay employees
Paycheck, Direct Deposit, Payroll Card
|
What is the tax form that your employer sends that shows earnings and taxes withheld
W-2
|
What is money collected of US citizens by local, state and federal governments
Taxes
|
|
What is the total amount of money earned before payroll deductions
Gross Income
|
What is FICA
It funds Social Security and Medicare
|
What is the length of time for which an employee's wages are calculated
Pay Period
|
What is the W-4 form
IRS form filled out by the employee before you start working that determines how much is withheld for taxes
|
What does Medicare fund
Health care for senior citizens
|
|
What are the four types of income
Wage, Salary, Commission, Tips
|
What is the percentage of income taxed for Medicare
1.45%
|
What is the total payroll withholdings that have been deducted from the paycheck from January 1 to the last day of the pay period
Year to Date
|
What is the form used to file taxes by April 15th
1040
|
The amount of money earned and paid in taxes throughout the previous year
Information on a W-2 Form
|
|
What is the check amount that is often referred to as the take home pay
Net Income
|
What is taxable income
After deductions it is the amount you can be taxed on for the year
|
What is a card that electronically carries the balance ot the employee's net income
Payroll Card
|
What is the tax form used if you are a self-employed contractor
1099
|
What are our tax $ used for
Police, Schools, Roads, Emergency Services
|
|
What is overtime pay One and a half times the regular hourly rate |
What is the deadline to file taxes...TAX DAY
April 15
|
The component of the paycheck that shows earnings and taxes withheld Pay Stub |
What is the tax form used to let employers know you are eligible to work in the U.S.
I-9
|
When must an employer send out W-2 forms January 31st |
|
What does the government spend the majority of tax $ on Health Care |