Earnings vocab Flashcards

Front

Gross pay

Back

The money you get before taxes

Front

Net pay

Back

the money you get after all deductions

Front

Income tax

Back

Money that pays taxes to the government

Front

Sales tax

Back

Taxes when you buy something (like at the store)

Front

Withholding tax

Back

money they take out for taxes

Front

Deductions/contribution

Back

Money they take out for insurance/retirement

Front

Net monthly income (NMI)

Back

Money you take home after all deductions.

Front

Normal hourly rate

Back

hourly payment paid to an employee

Front

Overtime rate 1.5 multi. by hourly rate

Back

Rate at when an employee must pay after 40 hours of workweek

Front

year to date

Back

the time between the middle of the year and the present day