Paycheck Math Review

What two forms must an employee complete when beginning a new job?

• W2

• W4

• I9

• I19

What types of documents must be provided to complete an I9 form?

• Check

• Driver's license

• Social Security Card

• Birth certificate

What is the purpose of a Form W-4?

• Amount of money earned and paid in taxes throughout the year

• Amount of gross income which will be withheld from taxes

• Explain the rules of taxes

• There is no purpose because it is not a form

What information is provided on the Form W-2?

• Amount of gross income which will be withheld for taxes

• All tax information about money earned and paid in taxes throughout the previous year

• How much money you want your employer to withhold from your paycheck each pay period

• The amount of taxes you owe for your tax liability for the year

Way employers automatically add money for an employee's paycheck into his/her bank account and send the employee the pay stub.

• payroll card

• paycheck

• direct deposit

• cash

Electronic way to pay the net income to an employee without having to use a bank account.

• direct deposit

• cash

• paycheck

• payroll card

This is known as the length of time for which an employee's wages are calculated.

• pay date

• pay period

• pay calculations

• payment time

The total payroll withholdings that have been deducted from the paycheck from January 1 to the last day of the pay period

• year to date

• pay period

• withholding totals

• gross income

Calculated by multiplying the number of hours worked by the hourly wage?

• net income

• withholdings

• gross income

• deductions

Name for amount of money left over after all deductions have been taken

• net income

• take home pay

• gross income

• payroll withholdings