Income Vocabulary

To find the take home pay percent...

• divide gross pay by net pay (then multiply by 100)

• divide net pay by gross pay (then multiply by 100)

• multiply net pay by gross pay (then divide by 100)

Tags

CCSS.6.RP.A.3C

Which of the following is a federal tax form completed by an employer that summarizes the earning and deductions of an employee

• W2

• W4

• FICA

• Social security

The sum of job earnings, interests, and dividends BEFORE deductions

• net pay

• taxable income

• gross income

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Amount that a government gives back to a taxpayer who has paid more taxes than were due

• adjusted gross income

• tax refund

• deduction

• net pay

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

FICA =

• net pay + deductions

• gross income + deductions

• social security tax + medicare tax

• transportation tax + government fees

Total compensation (Gross pay) =

• net pay + all deductions

• net pay + tax refund

• salary - FICA

Tags

CCSS.7.RP.A.3

Multiplying your gross pay by a percentage allows you to find this amount...

• net pay

• deduction

• tax refund

Tags

CCSS.6.RP.A.3C

Amount that is regularly taken out of a payment to a worker, such as a tax or health insurance contribution

• tax

• net pay

• deduction

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

tax

• money paid to the government to fund public services

• money taken back by the employer

• money used to tip a server

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

What is the account number on this check?

• 654

• 425425782

• 135974526