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Worksheets3.07 Getting Paid Note Taking Guide
Total questions: 12
Worksheet time: 6mins
Fixed amount of money or compensation paid to an employee by an employer in return for work performed
Salary
Hourly
Payroll Card
Paycheck
A reloadable debit card onto which a worker's pay is loaded
Salary
Hourly
Payroll Card
Paycheck
What is a con to direct deposit?
May have to pay fees
Must have an account. Employer may not participate.
Could lose the check
Access funds by cashing or depositing check
What is an allowance?
Products or services that add extra value for employees beyond wages earned
Income for Retirees, People with profound disability, children who have lost a parent
Exemptions from income tax for qualifying dependents
Regular schedule that employers pay employees.
Social Security: The purpose is...
Products or services that add extra value for employees beyond wages earned
Income for Retirees, People with profound disability, children who have lost a parent
Exemptions from income tax for qualifying dependents
Regular schedule that employers pay employees.
Medicare: The purpose is..
Health care for people over the age of 65
Income for Retirees, People with profound disability, children who have lost a parent
Exemptions from income tax for qualifying dependents
Regular schedule that employers pay employees.
Gross Income - Deductions =
Gross Income
Net Income
Payroll
Income Payroll
How do optional employee benefits benefit an employee?
Always know when money will be in the account
Amount of money left once all deductions have been taken from gross income
Employees typically pay less than privately purchasing the benefit.
Provides benefits that employee would otherwise have to pay
An employer is...
Is responsible for paying business taxes
Someone who employs people.
A person who works for an employer
A check written to a worker in the amount of money earned
Describe year‐to‐date
Outlines deductions made to wages.
Pay date is date check is issued
The schedule by which employer pays
Amount from January 1 to last day of current pay period
Pay period is...
Outlines deductions made to wages.
Pay date is date check is issued
The schedule by which employer pays
Amount from January 1 to last day of current pay period
What is a pay stub?
Outlines deductions made to wages.
Pay date is date check is issued
The schedule by which employer pays
Amount from January 1 to last day of current pay period
