Understanding a Paycheck and Pay Stub

Front

What is a pay period?

Back

the number of days an employee works and is paid for each paycheck

Front

What is gross pay?

Back

the amount of money earned before any deductions are subtracted

Front

Which of these is an optional/voluntary deduction? healthcare insurance, state income tax, Social Security tax, Medicare tax

Back

healthcare insurance

Front

Multiplying a worker’s hourly wage amount and hours worked per pay period equals?

Back

gross pay

Front

A fixed amount of money per year paid to an employee to do a job is known as a _____?

Back

salary

Front

Which of these is the amount of money that remains after taxes have been deducted that a person can save or spend as he or she wishes? semi-monthly paycheck, gross pay, residents, disposable income

Back

disposable income

Front

What is netpay?

Back

the amount of money left in a worker’s paycheck after deductions are taken out

Front

What is a deduction?

Back

the amount of money subtracted from your paycheck

Front

A pay stub...

Back

explains how much money was earned and the types of deductions and amounts withheld from a worker’s paycheck.

Front

Overtime...

Back

is time worked beyond an employee’s regular hours.