Paychecks and the Federal Reserve System

A statement of value declaring the value of an individual's net pay. This can be cashed or deposited.

• pay stub

• deposit

• check

• paycheck

Switching monies from one account to another.

• transfer

• deposit

• withdraw

• Checking Account

Anything that people accept as payment for goods and services.

• Money

• Barter

• Check

• Debit Card

This tax funds Social Security + Medicare

• FIT

• SIT

• SSN

• FICA

Something given without payment made in return. In 2016, the maximum dollars a person can give an individual without the individual having to claim it on his/her taxes is $14,000.

• Tax

• Refund

• Gift

• Lien

Court Ordered; when money is withheld from an employee's paycheck that is then in-turn paid directly to an individual or company that the employee did not pay on a timely basis.

• Taxes

• Garnishment

• Lien

• FICA

A statement of no value announcing the value of an individual's net pay. This cannot be cashed or deposited.

• Paycheck

• Paystub

• Check

• Debit Card

The amount of money and individual makes per paycheck before any/all deductions are withheld.

• Paystub

• Garnishment

• Gross Pay

• Net Pay