Net Pay

Gross pay is defined as:

• the amount of money a person brings home
• the amount of money earned before any deductions 
• part time pay amount
• pay a person receives for overtime work

Tags

CCSS.6.NS.B.3

Net pay is defined as:

• part time money earned
• overtime pay for extra work
• amount of money a person brings home after deductions
• money earned before deductions

Tags

CCSS.6.RP.A.3B

Tony is married with two kids, how many exemptions can he claim?

• One
• Two
• Three
• Four

Freida Werner earned a gross income of $45,600 last year. She made payments into an approved retirement plan of $3,600. What was her adjusted gross income last year?

• $4,200
• $420,000
• $49,200
• $42,000

Tags

CCSS.7.RP.A.3

Jorge Viscano had $38,000 in adjusted gross income last year.He took the standard deduction of $5,450 and one exemption for himself for $3,500. What was his taxable income of last year?

• $2.90
• $290,500
• $29,050
• $2,905

Tags

CCSS.7.NS.A.2A

CCSS.7.NS.A.2B

Taxes for Social Security and Medicare are a part of ____?

• FDIC
• SIPC
• IRS
• FICA

Tyler noticed that money was withheld from his pay for taxes and some benefits. These withholding are also called ________?

• Expenses
• Withholdings
• Deductions
• Reductions

What's commonly referred to as the most important tax day of the year?

• August 15
• April 15
• December 30
• June 30

A graduated tax takes a smaller share of income from low-income groups than from high-income groups.

• True
• False

Tags

CCSS.6.EE.A.2C

Which of the following is not a required deduction from your gross pay?

• income tax
• Social Security
• life insurance
• Medicare

Tags

CCSS.7.RP.A.3