Paychecks

Front

When money is taken out of your paycheck to pay your taxes it is called __________

Back

Deductions

Front

The money that you make for work you have done is called __________

Back

Income

Front

If your gross pay is $400.00 and your total deductions are $180.00 what is your net income?

Back

$220.00

Front

The amount of money you make before deductions are taken out is __________

Back

Gross Income

Front

If your gross pay is $150.00 and your total deductions are $40.00 how much is your net income?

Back

$110.00

Front

What is the term for the total amount of money earned before any deductions?

Back

Gross Income

Front

What do we call the money you take home after deductions?

Back

Net Income

Front

If you earn $500 and have $100 in deductions, what is your net income?

Back

$400

Front

What is the purpose of deductions from your paycheck?

Back

To pay for taxes, insurance, and other expenses.

Front

What is the difference between gross income and net income?

Back

Gross income is before deductions; net income is after deductions.