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2026//Paychecks EXPLAINED GUIDE UPDATE
Typology: Quizzes
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Gross Pay The amount an employee is paid before deductions Overtime Pay The amount of hours worked over regular hours (40) Net Pay The amount an employee is paid after deductions Federal Withholding Tax Percentage taken out for federal income tax Salary A fixed regular amount of pay no matter the hours that you work Hourly Rate The amount an employee is paid per hour
Choose an answer 1 Gross Pay 2 Federal Withholding Tax 3 Pay Period 4 Hourly Rate Don't know?
Deduction Money withheld or taken out of your paycheck State Tax Money deducted from your paycheck that goes to the NYS government W-4 Determines the percentage of an employee's pay that will be withheld for federalincome taxes
Taxes Compulsory (required by law) charges imposed on citizens by local, state, andfederal governments. Provide public goods and services.
I-9 Verifies the eligibility of individuals to avoid hiring undocumented workers FICA This tax includes two separate taxes: Social Security and Medicare Medicare Nations' health care program for the elderly and disabled Pay Period The length of time for which an employee's wages are calculated payroll withholdings The amount of money subtracted or deducted from the gross pay earned Social Security Nations' retirement program YTD Total of all the deductions which have been withheld from an individual'spaycheck from January 1 to the last day of the pay period indicated on the paycheck stub