Analyzing Income Vocabulary

Question	Answer
Contract Work	employee does not become a regular addition to the staff and is not considered a permanent employee
Gross Pay	total of an employee's regular remuneration including allowances, overtime pay, commissions, and bonuses, and any other amounts, before any deductions are made
Payroll Deductions	amounts withheld from an employee's payroll check, and these amounts are withheld by their employer
Net Pay	amount of pay remaining for issuance to an employee after deductions have been taken from the individual's gross pay
Salary	fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker
Human Capital	process of self investment
Standard of Living	minimum necessities, comforts, or luxuries thought to be essential
Income	money that is earned or unearned
Net Income	money left after tax deductions
Fixed Income	any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule
401(K)	portion of salary deducted from gross pay and placed in a special account

Resource summary

	Created by Shannon Anderson-Rush over 5 years ago