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.

BALANCEA state of equality. Equally distributed

CASH DRAWERA compartment under a cash register that

holds money, coupons, etc.

STATE TAXESTaxes that are imposed by state

governments to fund state programs.

FEDERAL TAXESTaxes that are imposed by federal

governments for public use.