Paycheck

Your paycheck paystub lists your pay and deductions for:

• the current pay period

• year to date period

• both answers

Gross pay refers to:

• the amount you receive after your employer takes out withholdings and deductions

• the amount you receive before your employer takes out withholdings and deductions

• old and disgusting currency

Whether you receive your pay by check, direct deposit or payroll card, it is listed on the paystub as:

• net pay distribution

• federal withholding

• pay rate

Tax information stated on your paycheck includes:

• your marital status (whether you’re married or single)

• the number of withholding allowances (personal exemptions)

• both answers are correct

Some form of your Social Security number is listed on each pay stub.

• true

• false

An example of a voluntary deduction is:

• federal income tax

• state income tax

• Social Security tax

• 401k contribution

An example of a mandatory withholding is:

• federal income tax

• state income tax

• Social Security tax

• all are mandatory

Your withholdings for taxes are determined by:

• W-2

• W-4

• I9

• 1099

State income taxes are withheld:

• in all 50 states

• in most states

• in a few states

• no state has an income tax

Funds for 401(k) retirement savings plans are taken from pre-tax wages.

• true

• false