Paystubs Barry Edit

Front

What is Social Security?

Back

A government program that provides retirement income for the elderly and pays disability benefits.

Front

What does FICA stand for?

Back

Federal Insurance Contributions Act, which includes Social Security and Medicare taxes.

Front

What are the two main components of FICA taxes?

Back

Social Security Tax and Medicare Tax.

Front

What is a deduction in the context of a paycheck?

Back

The amount of money subtracted from your paycheck.

Tags

CCSS.6.NS.B.3

Front

What is net pay?

Back

The amount of money remaining after taxes and deductions have been subtracted from gross pay.

Tags

CCSS.7.RP.A.3

Front

What is a pay stub?

Back

A document that explains how much money was earned and the types of deductions and amounts withheld from a worker’s paycheck.

Front

What is the largest deduction typically found on a pay stub?

Back

Federal Tax.

Front

What is Medicare?

Back

A federal health insurance program primarily for individuals aged 65 and older.

Front

What is the purpose of state income tax?

Back

To fund state government services and programs.

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Front

What is gross pay?

Back

The total income earned by an employee before any deductions.

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5