management of household finances

An employee's fixed agreed yearly income. 

• Salary
• Deductions
• Wages
• Commission

Earnings paid to an employee based on an hourly rate. 

• Commission
• Wages
• Salary
• Deductions

Tags

CCSS.6.NS.B.3

Total money you earn before taxes and other deductions.

• Salary
• Net income
• Gross income
• Wages

Tags

CCSS.6.RP.A.3B

Amounts of money taken from income before you are paid.

• Commission
• Retainer
• Deductions
• Rate

Tags

CCSS.7.RP.A.3

The amount of money you actually receive after the deductions are taken from your gross income.

• Net income
• Deductions
• Wages
• Tax

The tax deducted from gross income that is used to pay for public services is known as

• PRSI

• USC

• PAYE

The tax deducted from a persons gross income and used to pay for Social Welfare Payments are known as

• PRSI

• PAYE

• Income tax

• USC

A ____ is sent by employers to all employees at the end of each tax year, showing details of pay, income tax, PRSI, USC that have been deducted and paid to Revenue

• P60

• P45

A ______ is a document given to an employee when they leave their job. It is a statement of pay, income tax, USC, PRSI that has been deducted to date. It is used by the new employer to ensure the correct amount if tax is paid

• P45

• P60

When beginning a new job, which document is essential to submit to new employer so as not to be emergency taxed?

• P60

• P45