12 terms

Ch 12 Vocab


Terms in this set (...)

The money paid for employee services
the period covered by a salary payment
pay period
the total amount earned by all employees for a pay period
the total pay due for a pay period before deductions
total earnings
taxes based on the payroll of a business
payroll taxes
a deduction from total earnings for each person legally supported by a taxpayer, including the employee
withholding allowance
a federal tax paid for old-age, survivors, and disability insurance
social security tax
a federal tax paid for hospital insurance
medicare tax
the maximum amount of earnings on which a tax is calculated
tax base
a business form used to record payroll information
payroll register
the total earnings paid to an employee after payroll taxes and other deductions
net pay
a business form used to record details affecting payments made to an employee
employee earnings record