PF OBJ 3.06 - 3.07 Vocab

Front

Cost of living

Back

The average cost of basic necessities, such as housing and food

Front

Employee benefits

Back

Products or services provided by an employer that offer extra value beyond wages.

Front

Commission

Back

A fee a salesperson receives upon a sale.

Front

Dependent

Back

A person who relies on the taxpayer for financial support

Front

Direct deposit

Back

Wages deposited directly into a depository account.

Front

Employee benefits:

Back

Employers may offer benefits as products or services that add value beyond wages.

Front

Employer contributions

Back

The amount the employer has contributed to various employee benefits

Front

Employment

Back

Agreement between an employer and employee

Front

Form W-4 (Employee’s Withholding Allowance Certificate)

Back

Determines the percentage of an employee’s pay withheld for federal taxes.

Front

Gross income

Back

Amount earned before payroll taxes