Paycheck Terms

A portion of one’s personal income paid to a government including the federal and state.

• Income

• Gross Pay

• Net Pay

• Income tax

Is the total amount you earn before any deductions are subtracted.

• Net Pay

• Gross Pay

• Income

• Taxes

Income amount remaining after all deductions have been taken out of gross pay.

• Net Pay
• Gross Pay
• Income
• Taxes

A fixed hourly rate earned by employees

• Income

• Net Pay

• Wage

• Gross Pay

Required charges of citizens by local, state and federal governments

• Payroll 
• Deductions
• Taxes 

Social security and medicare fall under 

• FICA 
• State 
• Federal 
• 401K

True or False: Social Security  helps provide retirement income for the elderly and pays disability benefits

• True 
• False 

Tara’s deductions add up to $112 a week. If her net pay is $425 a week, what is her gross pay?

• $112.00

• $313.00

• $425.00

• $537.00

The lowest hourly rate an employer may legally pay most workers.

• Tips

• Salary

• Minimum Wage

If you worked 40 hours per week at $10 per hour, what is your gross income for the week?

• $227

• $4000

• $40

• $400