Getting Paid - Advanced Level

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by s6f58qoa8
Last updated 6 years ago

Discipline:
Social Studies
Subject:
Economics
Grade:
3,4,5,6,7,8,9,10,11,12

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Getting Paid - Advanced Level

When you get employed you and your employer have to have a agreement, usually with salaryand wages. Your salary depends on how much money you want to make and not how many hours you work. Commision is a motivational way to get a salesperson to sell more.

Employment/Salary/Comission

Author: Kristal Manassa

Getting Paid

Name: Kristal ManassaDate: 12/12/2013

Gross income-Deductions=Net Income. Your boss is required to hold your income tax & payroll tax. Income tax is the tax you pay to federal, state, & local goverment. Payroll taxes are kept or paid by your employer.

Payroll Deductions/PaycheckTax Reliability

You can pay in three different ways: paper check, direct deposit, & payroll card. When you get paid with a paper check you can go and cash the check or deposit. When making a direct deposit you money is directly deposited into your account. A Payroll card is a card which is a reloadable debit card.

Methods of Payment

Advanced Level

Required income & Payroll taxes

Paystub

State Income taxSocial SecurityMedicareFederal Income taxW-4Dependant

A paystub includes:Employee Information, Pay Period, Gross Income,Hours & Earnings, Deduction, Net Income, Employer Contributions, Employee Leave Balances


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