Paycheck Vocabulary

Front

Taxes are...

Back

fees and charges imposed by governments to help pay for their programs and services

Front

On your paycheck, your "take home" pay, or money that you could spend, is also known as:

Back

net pay

Front

These are fees and charges imposed by governments to help pay for their programs and services.

Back

taxes

Front

On your paycheck, this is the total pay you have earned from a job, before any taxes and benefits are deducted.

Back

gross pay

Front

A tax used to fund the social security benefits to Americans who are retired, sick, or too disabled to work, and to families of workers who have died.

Back

FICA - Social Security

Front

A tax which is used to provide healthcare and insurance benefits to retirees and people with limited resources/income

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FICA - Medicare

Front

the amount that an employee earns before taxes and other deductions are taken from their paycheck

Back

Gross Pay

Front

the amount of money you actually get to keep from your paycheck after taxes/deductions are subtracted

Back

Net Pay

Front

FICA Taxes include

Back

Social Security and Medicare

Front

Taxes used to fund the Military/National Defense, social programs, law enforcement, and national debt

Back

Federal Tax