INCOME
Paycheck video
Hands On Banking "Getting Paid"
Income Vocabulary
overtime - more than 40 hours of work in 1 week
time and a half - 1.5 times the regular hourly rate
gross pay - total pay before deductions
net pay - also called take home pay - the amount of money left after deductions
commission - part of the money you make from sales as your pay
salary - the amount you get paid, usually in a yearly amount
W-4 Form - form completed so your employer can withold the correct amount of money from your pay
income tax deductions - amount of money taken out of your check that goes to help run the government - both state and federal
social security tax (FICA) - money used to provide income and medical care for people when they retire
benefits - medical & dental insurance, life insurance, retirement
Vocabulary practice
Commission practice
IRS W4 Form http://www.irs.gov/pub/irs-pdf/fw4.pdf?portlet=3
Paystub examples
Example 1
Example 2
Pay Stub Explanation Worksheet http://mrbisdabomb.weebly.com/uploads/7/0/3/3/7033339/pay_and_taxes.pdf
Reading a pay stub
activities http://www.tv411.org/finance/earning-spending/reading-pay-stub
How to read a pay stub
Calculating Wages Worksheet
Wage Preference Worksheet
Income Assessment