2.3 Vocab - Ayanna Personal Finance Period 1 Vocabulary Page 61 Gross Pay total salary or wages earned during the pay period Net Pay the amount of your

2.3 Vocab - Ayanna Personal Finance Period 1 Vocabulary...

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Ayanna Personal Finance Period 1 12/05/16 Vocabulary Page 61 Gross Pay- total salary or wages earned during the pay period Net Pay- the amount of your paycheck after deductions Exemption- a person claimed as a dependent on a tax return Dependent- a person who depends on you for more than half of their support Social Security Tax- a withholding tax to provide old-age, survivors, and disability insurance Medicare Tax- a tax that pays for medical care for retired persons Workers’ Compensation- an insurance plan that pays medical and disability benefits to workers injured on the job Form W-2- a formed used to report taxable income a worker received during the calendar year
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  • Winter '15
  • Egner
  • Taxation in the United States, insurance plan, Medicare Tax

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