Federal Income Tax (FIT) - Money taken from your pay for the U.S. government, Social Security Tax (FICA) - Money for retirement and disability benefits, Medicare Tax - Money for health care when you are old, State Income Tax (SIT) - Money for your state government (not all states have this), Local Taxes - Money for your city or town, Federal Unemployment Tax (FUTA) - Money from employers to help people without jobs, State Unemployment Tax (SUTA) - Money from employers for state jobless benefits, Payroll Tax Liabilities - Money the employer must pay for taxes, Taxable Wages - The part of your pay that taxes are taken from, Non-Taxable Wages - The part of your pay without taxes, Payroll Tax Penalties - A fine if taxes are paid late or wrong, Gross Pay - Your total pay before taxes, Net Pay - Your pay after taxes (the money you receive), Overtime Pay - Extra money for working more than normal hours, Bonus Pay - Extra money for good work, Salary Advance - Getting part of your pay early, Direct Deposit - Your pay goes straight to your bank, Pay Stub - A paper or email showing your pay and taxes, Pay Schedule - How often you get paid (weekly, every two weeks, etc.), Hourly Rate - How much you earn per hour, Salary Basis - Fixed pay every month (not based on hours), Retirement Deductions - Money saved for when you stop working, Health Insurance Premiums - Money taken for health care, Garnishments - Money taken from your pay for debts, Reimbursements - Money back for work costs (like travel), Year-to-Date (YTD) Totals - All your pay and taxes from January until now,

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