FINANCIAL MATH - Wages and Taxes Vocab

The total amount of income you earn in a pay period before any deductions are taken out

• Gross pay

• Net pay

• Wages

• Salary

Tags

CCSS.6.NS.B.3

An amount paid to your state government for state-funded programs and services.

• State taxes

• Federal taxes

• Local taxes

• City taxes

Tags

CCSS.6.RP.A.3B

A retirement saving plan which allows employees to save and/or invest in preparation for retirement

• Social Security

• 405(K)

• Medicaid

• 401(K)

Tags

CCSS.6.RP.A.3B

Reflects the amounts that are automatically deposited into the bank accounts specified by the employee

• Deductions

• Wages

• Direct deposit

• Gross pay

Tags

CCSS.6.RP.A.3B

Pay based on the amount of money an employee earns per hour

• Wages

• Salary

• Gross pay

• Net pay

Tags

CCSS.4.MD.A.2

How is the employee paid? 

• wages
• salary 

Tags

CCSS.6.RP.A.3C

What are the employee's total deductions this pay period? 

• 1844.01
• 307.34
• 1280.00
• 972.67

Tags

CCSS.7.EE.B.3

The period covered by a salary payment is called a

• Payment

• Pay period

• Limited workers compensation

• Month

Tags

CCSS.RI.11-12.7

CCSS.RI.9-10.7

CCSS.RL.11-12.7

CCSS.RL.8.7

CCSS.RL.9-10.7

The amount of income tax withheld is based upon (choose two)

• marital status

• age

• your type of job

• number of withholding allowances

Tags

CCSS.7.RP.A.3

FICA is

• social security tax

• a deduction for people 65 or older

• not a tax

• not deducted from your paycheck

Tags

CCSS.6.RP.A.3D