PHS EPF Vocab Unit 1 2021

A paid career-training program where students learn on the job in addition to some classroom instruction.

• Dependents

• Trade School

• Apprenticeship

• W-2

A letter you send with your resume to explain your qualifications and interest in a particular job opportunity.

• Job letter

• Cover Letter

• Thank you letter

• Resume Letter

A person that relies on the taxpayer for support.

• Dependent

• Independent

• Teenager

• Descendent

Amount of money subtracted from the gross pay to cover mandatory (taxes)

• Deductions

• Dependents

• Net pay

• Subtractions

An employee's paycheck is electronically processed and goes directly into the employee's bank account.

• Direct banking

• Direct withdrawal

• Direct accounting

• Direct Deposit

You report your number of allowances on your W-4. The more exemptions you claim the less tax your employer withholds from your pay.

• Taxable income

• Excellent pay

• Exemption/ allowance

• Excellent tax claim

The total amount of money earned during a pay period before deductions.

• Net wages

• Net Income

• Gross paycheck

• Gross wages

Is all money coming in from multiple sources such as wages, rental income, bank interest and investments.

• Income

• Paycheck

• Gross Wages

• Gross Salary

Federal and state tax that is based on your income.

• Medicare tax

• Social Security

• Income Tax

• Retirement tax

A student or trainee who works, sometimes without pay, in order to gain work Experience in a particular field.

• Leadership

• Vocational Training

• cashier

• Intern / internship