Income, Taxes, & Expenses

An employee in the State of Texas who will generally work 40 hours a week is known as:

• Part-Time Employee

• Seasonal Employee

• Full-Time Employee

• Temporary Position

Anyone who is regularly scheduled to work less than the amount of time an employer designates as full-time. Generally is LESS THAN 40 hours a week is known as:

• Part-Time Employee

• Seasonal Employee

• Full-Time Employee

• Temporary Position

The amount of money received before any deductions are taken out. This is also known as Total Wages:

• Net Pay

• Gross Pay

• Deductions

• Income

The amount of pay remaining to be awarded to an employee after deductions have been taken from the individual's gross pay. This is also known as Take Home Pay:

• Net Pay

• Gross Pay

• Deductions

• Income

An expense that can be subtracted from Gross Pay:

• Involuntary Deductions

• Voluntary Deductions

• Deductions

• Income

The amounts which an employee has elected to have subtracted from gross pay. Examples are life insurance, healthcare and/or other benefits:

• Involuntary Deductions

• Voluntary Deductions

• Deductions

• Income

Neither the employer nor the employee has control over paying these. The employer is required by law to deduct a certain amount of the employee's pay and send it to a person or government agency:

• Involuntary Deductions

• Voluntary Deductions

• Deductions

• Income

The total amount of earnings made over a month before any deductions.

• Involuntary Deductions

• Voluntary Deductions

• Gross Annual Income

• Gross Monthly Income

A portion of one’s personal income paid to the government is known as:

• Federal Income Tax

• Voluntary Deductions

• Gross Annual Income

• Gross Monthly Income

Amount of monthly income remaining after all deductions have been taken out:

• Federal Income Tax

• Net Monthly Income

• Net Annual Income

• Gross Monthly Income