Some states have minimum wage laws that a set higher rate than the federal minimum wage rate.

Salaried workers usually do not keep time cards or counts hours worked.

Networking is the process of making contacts and building relationships with other people.

Owning a small business involves hard work but very little risk.

Vacation days, holidays, and sick leave days are examples of pay without work.

Perks are benefits that have high monetary value to employees of large companies.

Group health insurance premiums are typically lower than premiums for individual policies.

A health flexible spending arrangement allows employees to set aside money to pay for qualified medical expenses.

Interest income is a form of unearned income.

Medicaid is a program of medical insurance that is provided for all retired Americans.

Excise taxes are charged on the purchase of specific goods, such as gasoline, cigarettes, and alcohol.

Not everyone benefits from government goods and services that are paid for with tax dollars.

Taxes and payments for other items are subtracted from a workers gross pay to calculate net pay.

The more exemptions a worker claims, the lass tax is witheld from his or her paycheck.

Form W-2 is used by employees to list their exmptions and determine tax withholdings from their paychecks.

A simple federal tax return fprm designed for use by single and joint filers with no dependents is

Overtime pay for hours worked above 40 hours in 1 week must be at least

A percentage of a sale paid to the salesperson is called a

The amount left after all costs are deducted from the income of a business is called

A benefit often received by full-time workers is

Programs that reimburse employees for education costs

Workers compensation insurance

Dividends are

Money and benefits people receive from local, state, or federal governments are called

Which of the items listed is an in-kind transfer payment?

Insurance that provides payments to replace income lost when illness or injury (not job-related) prevents an employee from working is called

Which of the items listed is a required deduction from a worker's paycheck?

Which form do workers complete so an employer can verify that they are eligible for employment?

Social Security tax

Which of the items listed is an optional deduction from a workers's paycheck?

A business owner who takes the risk of owning and operating a business

Money a person has left over to spend or save after taxes have been paid

Days a worker is paid for working but does not actually work, such as Memorial Day or Veterans

Money or benefits received from government without working for them

Forms of pay for a job other than salary or wages, such as vacation days and holidays

Money received from sources other than working in a job

A required payment for the support of a government

A benefits package that allows employees to select the options they want from a number of choices

Days for which a worker is paid even through she or he is absent from work for personal reasons

Days for which a worker is paid even through he or she did not work due to illness