A fee that a salesperson receives upon completion of a sale.

A person who relies on someone else for financial support. Parent/Guardian can "claim" on tax return to reduce their taxable income and lower tax bill.

Wages are deposited directly into a depository institution account.

Employers may offer employee benefits in the form of products or services that add EXTRA value for employees beyond earned wages.

The amount the employer has contributed to various employee benefits.

Agreement between an employer and employee.

The form that determines the amount of an employees’ pay that will be withheld for federal taxes.

Act allows eligible employees unpaid time off for specified family and medical reasons.

An individual’s income earned as salary or wages before taxes and other deductions.

A tax on earned and unearned income.

A federal program whose main purpose is to help pay for health care for those over 65.

Amount of money left once all payroll deductions have been subtracted from gross income; often referred to as “take home pay.”

A check written to a worker in the amount of money earned.

A reloadable card onto which a worker’s pay is loaded. These cards are not linked to a checking account and are not intended for savings.

Taxes withheld or paid on your behalf by your employer from earned income, supports Social Security and Medicare programs.

The regular schedule that employers pay employees. 

A document that shows an employee's earnings and deductions for a pay period. It's also known as a paycheck stub, salary statement, earnings statement, or pay slip.

Fixed amount of money or compensation paid to an employee by an employer in return for work performed.

A federal government program that funds retirement accounts, financially supports citizens who have experienced profound disability, the premature death of a parent (if under the age of 18), or the premature death of a spouse in a family with children.

Form that details all “non-employee” compensation, including for specific jobs like freelancers or contractors.

A source of income for workers who have lost their jobs though not fault of their own.

A state-sponsored system that pays monetary benefits to workers who become injured or disabled on the job.

The standard Internal Revenue Service (IRS) form that individuals use to file their annual income TAX RETURN.

An inspection of a filer’s tax return by the IRS.

Any income that is generated by working.

A type of sales tax added to special items like gas, cigarettes, tobacco products, alcohol, etc.

Form used by an employer to verify an employee’s identity and to establish that the worker is eligible to accept employment in the US

A bureau of the United States Treasury Department. Collect taxes and enforces tax laws.

A tax system that uses tax brackets to collect a larger percentage of high-income earners that it does for low-income earners. Basically, the more you make, the more you pay.

Tax added to purchased goods or services at the point of a sale.

Tax on imported goods from other countries.

An amount that the government gives back to the taxpayers who has paid more taxes than were due.

1040 is an example of an annual report to the IRS summarizing total income, deductions, and taxes withheld by employers.

Income earned through interest on savings accounts, bonds, CDs, etc. Income received from sources OTHER than employment. Basically, you are getting money but you are not physically working for it!

Form that an employer must send to an employee by Jan. 31st of the next year. This form has information about the employee’s annual wages & taxes withheld from their paycheck. Employees will use this form to help them file their 1040 (tax return).