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Federal Income Tax Withholding
The process where employers withhold a portion of employees' wages as an advance payment of federal income tax.
Hourly Wage Rate
The hourly wage rate is the amount of money paid to an employee for each hour of work performed.
Note Payable
A written agreement where one party promises to pay another party a specific sum of money on a certain date or upon demand.
Interest-Bearing Note
This is a debt instrument that pays interest to the holder at a fixed or variable rate until the maturity date or repayment of the principal amount.
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