1. FORMS OF INCOME Wage Minimum Wage Piecework Income Salary Commission Tips Bonus

2. REQUIRED PAYROLL DEDUCTIONS Social Security FICA-Federal Insurance Contributions Act 7.65% of earnings shared with the employer State taxes Local or City taxes Medicare Federal Taxes

7. OTHER PAYROLL DEDUCTIONS Health care Dental care Vision care Other types of insurance Purchased through the business to gain the lowest cost Union Dues Clothing and equipment

8. Non monetary Compensation Employee Benefits Paid sick leave Paid vacations and holidays from work Life insurance Health insurance Retirement savings

9. What is the difference between gross income and net income? GROSS INCOME-total amount of money earned NET INCOME-total monies after requires and optional payroll deductions