U2 Income & Wages Vocabulary

An amount of money paid to an employee at a specific rate; can be hourly, daily, weekly etc.

• Salary
• Wage
• Equity
• Bonus

Tags

EPF.IE.1.5

money received, usually from a job, business, or assets within a specified period of time (usually per year)

• Interest
• Fee
• Income
• Wage

Tags

EPF.IE.1.5

income before payroll taxes (such as federal/state income) are taken out; includes your wages, dividends, capital gains, business income, retirement distributions as well as other income

• Gross Income
• Assets
• Rent Income
• Side Hustle

Tags

EPF.IE.1.5

the amount of income remaining after subtracting all allowable adjustments to income from gross income; may include educator expenses, student loan interest, alimony payments, contributions to a retirement account, and other adjustments

• Gig Economy
• Adjusted Gross Income (AGI)
• Taxable Benefits
• Gross Income

Tags

EPF.IE.1.5

income after payroll taxes and voluntary deductions are removed; sometimes called take-home pay

• Gig Economy
• Minimum Wage
• Gross Income
• Net Income (Pay)

Tags

EPF.IE.1.5

wages or salary plus fringe benefits; items provided by an employer that may have a cash value but are not considered income

• Earned Income
• Compensation Package
• Investments
• Passive Income

Tags

EPF.IE.1.5

fixed rate for every hour worked during a regular work week; most common type of income

• Wage
• Piece Rate
• Hourly Wage
• Bartering

Tags

EPF.IE.1.5

lowest hourly wage allowed by law for most workers; federal is currently $7.25

• Minimum Wage
• Side Hustle
• Wage
• Hourly Wage

Tags

EPF.IE.1.5

1.5x the hourly wage for hours worked over 40 in a singular work week

• Passive Income
• Hourly Wage
• Bartering
• Overtime Wage

Tags

EPF.IE.1.5

offered to employees and not subject to tax - ex: health, dental, HSA,

• Affiliate Marketing
• Passive Income
• Net Income (Pay)
• Non Taxable Benefits

Tags

EPF.IE.1.5