Understanding paychecks

What's a check stub?

• What you give to the bank to deposit.

• The part of a paycheck that lists deductions from your salary

• It's an envelope.

Tags

CCSS.7.NS.A.1

CCSS.7.NS.A.2

CCSS.7.NS.A.3

What's a pay period?

• The length of time for which an employee's wages are calculated; most are weekly, bi-weekly, twice a month or monthly.

• It's a time sheet.

• a paper document issued by an employer to pay an employee for services rendered

Tags

CCSS.3.MD.A.1

What's gross pay?

• The total amount of an employee's earnings BEFORE deductions are taken out.

• It's when you feel gross because of your paycheck

• It;s the total amount of an employee's earnings AFTER all deductions.

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.3

What's net pay?

• The amount of a paycheck AFTER all deductions are taken out.

• The amount of a paycheck BEFORE all deductions are taken out.

• The net worth of an individual

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

What's a deduction?

• It's the extra money you receive on your paycheck for working overtime.

• The amount of money taken from an employee's gross pay for taxes, insurance, social security and other benefits.

• When an employee loses his/her job because they are absent to much,

What are some optional deductions?

• Let's just eat cake!

• There are no optional deductions.

• Medical and 401K