Understanding Payroll and Federal Income Taxes

Required payments to a government are_______________. 

• income
• taxes
• medicare

Tags

CCSS.6.RP.A.3B

Total pay or earnings made over a one-year period before any deductions have been taken is _____________.

• gross annual income
• net monthly income
• net annual income
• gross monthly income

Tags

CCSS.7.RP.A.3

The amount of salary received after taxes and deductions

• Gross Pay
• Net Pay
• Total Earnings
• Bill 

What form is used by your employer to allow them to withhold taxes from your paycheck?

• I-9
• W-2
• W-4
• 1040EZ

Which type of tax do you pay on your home , land or vehicles?

• Location Tax

• Land Tax

• Property Tax

• House Tax

Net pay is...

• Your take home pay after taxes
• Your total income before taxes.

A tax on purchased goods and services

• community
• property tax
• earned income
• Sales tax

What is the purpose of a W-4?

• To track your tax history
• To tell you how much you will earn each month.
• To inform you on how much your employer will withhold on your taxes
• None of the above

When you pay your local taxes, you pay for...

• Parks
• Education
• Fire Departments
• All the above

The form _______tells you how much was taken out of your pay for the year.

• W-2
• W-4
• 1040
• 1040EZ

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

CCSS.RI.8.5