Building Your Future: Making a Living

Percentage of your income, including wages, salaries, commissions and bonuses paid to the gov't

Compensation Package is:

Time not worked by an employee for which the regular rate is accumulated & paid to the employee

a form the employee fills out that will let the employer know how much to deduct in federal tax.

Gross Pay is:

A federal payroll tax that funds gov't programs that provide benefits to retirees

A Non-exempt employee is paid:

Compensation that must be earned (commission) each time in order to be paid to the employee

basic rate of pay not including overtime, bonuses or commissions

An employee who is paid a salary rather than hourly and is not eligible for overtime pay.

Another name for net pay

pay based upon amount of dollar sales a person generates

Form that reports the employee's annual wages and the amount of taxes withheld during the year

Two deductions that are not taxable

Employee's wages that are deducted by the employer as partial payment of their income taxes