W ORKPLACE V OCABULARY 2 Insurance, Dependable, Time card, W-4 and W-2.

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Presentation transcript:

W ORKPLACE V OCABULARY 2 Insurance, Dependable, Time card, W-4 and W-2

I NSURANCE A contract for providing for financial protection against a loss. A person agrees to pay the premium for a guarantee that they will be compensated under certain conditions for loss, damage, illness, etc

D EPENDABLE Worthy of being depended on. Reliable. Consistent in performance or behavior.

T IME C ARD A card on which the hours worked by an employee are recorded. Many today are electronic and are kept track of by a computer system.

W-4 This is the form used to figure out the amount of income tax to have withheld from your paycheck, which is called your withholding allowance. You are required to fill these out when beginning a new job.

W-2 Sometimes called a Wage and Tax Statement, this is a form that your employer gives you, and files with the IRS at the end of the year stating how much you were paid and the amount of taxes that were withheld from your wages.