WORKPLACE VOCABULARY 7

Retirement, Balance, Cash Drawer, State Taxes and Federal Taxes

RETIREMENT

The point where a person stops employment completely. A person can partly retire and still have a part time

job, out of necessity or choice. This usually happens upon reaching a

determined age. The average retirement age in the US is 65.

BALANCE

A state of equality. Equally distributed

CASH DRAWER

A compartment under a cash register that holds money, coupons, etc.

STATE TAXES

Taxes that are imposed by state governments to fund state programs.

FEDERAL TAXES

Taxes that are imposed by federal governments for public use.