Paychecks Words to Know

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Across
  1. 4. Dental insurance coverage that may be offered as an employee benefit, with premiums often deducted from paychecks.
  2. 6. Voluntary amounts subtracted from a paycheck for benefits or contributions chosen by the employee, such as health insurance premiums or retirement plan contributions
  3. 7. A payroll tax that provides medical benefits to people age 65 or older, certain younger people with disabilities, and people with permanent kidney failure
  4. 11. Various types of coverage (e.g., health, dental, life) that may be offered as employee benefits, with premiums often deducted from paychecks
  5. 14. Compensation paid to employees for their work, typically calculated hourly
  6. 15. A fixed amount of money paid to an employee, typically expressed as an annual sum
  7. 16. Federal Insurance Contributions Act tax, which includes Social Security and Medicare taxes[
  8. 18. Rate The percentage at which income is taxed
  9. 19. A pay frequency where employees are paid twice per month.
  10. 22. Tax Income tax collected by the federal government, with rates that are the same across the country
Down
  1. 1. Spending Account A pre-tax benefit that allows employees to set aside money for qualified medical or dependent care expenses
  2. 2. A document issued by an employer to pay an employee for their work, showing gross pay, deductions, and net pay
  3. 3. A pay frequency where employees are paid every two weeks.
  4. 5. Amounts taken from an employee's paycheck to prepay taxes, such as federal income tax, Social Security, and Medicare
  5. 8. Tax Income tax collected by state governments, with rates that vary by state
  6. 9. Pay The total amount of money an employee earns before any deductions or taxes are taken out
  7. 10. A pay frequency where employees are paid once per month.
  8. 12. Health insurance coverage that may be offered as an employee benefit, with premiums often deducted from paychecks
  9. 13. Period The recurring schedule on which an employee is paid (e.g., weekly, biweekly, monthly)
  10. 14. A pay frequency where employees are paid once every week.
  11. 15. Security A payroll tax that provides retirement and disability benefits for employees and their dependents
  12. 17. To Date The total amount of earnings, deductions, or taxes from the beginning of the year to the current pay period.
  13. 20. A mandatory financial charge imposed by the government on income, products, or activities
  14. 21. Pay The amount of money an employee receives after all deductions and taxes have been subtracted from their gross pay