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WorksheetsTax terms
Total questions: 15
Worksheet time: 8mins
the amount of money your employees receive before any taxes and deductions are taken out.
Gross Pay
Rate
401k
Benefit
the amount one receives after taxes and deductions have been withheld during a pay period.
SUI
Net pay
Deductions
Earnings
a fixed price paid or charged for something, especially goods or services.
Net pay
Pretax
Rate
SSN
an employer-funded tax that gives short-term benefits to those who lost or left their jobs for a variety of reasons. ... This rate changes depending on the amount of money an employer pays their employees as well as the number of employees laid off.
SUI
Rate
Gross pay
Allowance
a qualified retirement plan that allows eligible employees of a company to save and invest for their own retirement on a tax deferred basis.
401k
YTD
FICA
Rate
money obtained in return for labor or services.
SUI
Earnings
Allowance
W-4
considered or calculated before the deduction of taxes.
Gross Pay
Pretax
Net pay
401k
granted to a customer who had purchased merchandise with a pricing error or other problem not involving the return of goods. If the customer purchased on credit,
FICA
Rate
Pretax
Allowance
The action of deducting or subtracting something
Deduction
Pretax
SUI
W-2
an Internal Revenue Service (IRS) tax form completed by an employee in the United States to indicate his or her tax situation (exemptions, status, etc.) to the employer.
W-4
W-2
401k
Rate
a payment or gift made by an employer, the state, or an insurance company.
Net pay
Benefit
Gross pay
SUI
a nine-digit number issued to U.S. citizens, permanent residents, and temporary (working) residents
SSN
Rate
Deductions
W-2
the period beginning the first day of the current calendar year or fiscal year up to the current date
YTD
Benefit
Gross pay
FICA
U.S. law that mandates a payroll tax on the paychecks of employees, as well as contributions from employers, to fund the Social Security and Medicare programs.
SSN
FICA
SUI
YTD
the document an employer is required to send to each of their employees and the Internal Revenue Service (IRS) at the end of the year.
W-4
W-2
Rate
Pretax
