Paycheck

It's time for your first paycheck!

Open Ended

How do companies give employees their paycheck?

• Paper Paychecks

• Direct Deposit

• Pay Card

• Cash

​

How do Employees receive their Paychecks?

Multiple Choice

What should you always receive with your paycheck?

• pay stub
• invoice
• bonus
• cash

• Accessed electronically and/or given a paper copy

• Shows Gross and Net income

• Where does all your money go?

​

Pay Stubs

Created by HISD Curriculum using Google Slides

New Vocabulary.

Tax

An amount of money
the government
requires an individual
to pay.

Income

Money received from
goods and services.

Multiple Choice

What is the money the government requires individuals to pay called?

• Income

• Taxes

• Pay Stub

• Paycheck

Multiple Choice

What is money received or paid to you for goods or services?

• Income

• Taxes

• Pay Stub

• Paycheck

Created by HISD Curriculum using Google Slides

How do these taxes affect our income?

To understand how taxes affect income, we need to understand the difference between
gross income and net income.

Gross Income

An individual’s total income before taxes or other
deductions are taken out.

Net Income

The amount of money remaining after taxes and
other deductions are subtracted from one’s gross
income.

​Think of this as casting a net and only catching some fish instead of all of the fish in the lake.

Created by HISD Curriculum using Google Slides

What is payroll tax?

Income tax and other
taxes that an employer
is required to deduct
from an employee’s
gross income. It is paid
by the employer.

Created by HISD Curriculum using Google Slides

What is income tax?

A tax paid by an
employee or a business.
It is shown as a federal
and/or state withholding on
a paystub.

Multiple Choice

What is the total income before taxes are deducted?

• income

• taxes

• gross income

• net income

Multiple Choice

What is the total income after taxes are deducted?

• income

• taxes

• gross income

• net income

Multiple Choice

Who is Johnathan's Employer?

• Himself

• Waist no Want not!

• E10200

• Other Deductions

Multiple Choice

What is the length of the pay period Johnathan just worked?

• 85 Hours

• 2 weeks
• 1 week
• 1 month

Multiple Choice

How many total hours did Johnathan work during this pay period?

• 85 Hours

• 80 Hours

• 5 Hours

• 0 Hours

Multiple Choice

What amount per hour does Johnathan get paid for regular hours worked?

• $10

• $15

• $35

• $2,100

Multiple Choice

Did Johnathan Work any overtime this pay period?

• Yes, 85 hours

• No

• Yes, 5 hours

• Yes, 80 hours

Multiple Choice

What is Johnathan's Gross income for this period?

• $75.00

• $624.41

• $80.00

• $875.00

Multiple Choice

What is Johnathan's Year To Date earnings?

• $800

• $2100

• $624

• It doesn't say