The Paycheck Vocabulary

Information about your paycheck and benefits

• statement of earnings

• income

• withholding

• direct deposit

Money earned

• statement of earnings

• withholding

• income

• direct deposit

Money taken out of paycheck

• statement of earnings

• withholding

• income

• direct deposit

Check being sent directly to the bank

• direct deposit

• withholding

• income

• statement of earnings

Time off from work with pay due to illness

• FICA

• sick leave

• federal income tax

• net pay

take-home pay; what you take home after deductions

• FICA

• sick leave

• federal income tax

• net pay

Social Security tax

• FICA

• sick leave

• federal income tax

• net pay

Tax paid to the U.S. government

• FICA

• sick leave

• federal income tax

• net pay

Perks provided to employees (example: health insurance)

• FICA

• benefits

• federal income tax

• net pay