How to read your paystub

When you are paid by the hour, it is considered a _____________

• Salary

• Profitability

• Wage

• Credit

When you are paid a set amount annually, you are receiving a_________________

• Salary

• Wage

• Debt

• Expenditure

The amount you earn AFTER taxes and other deductions is known as_____________

• Indispensable Income

• Gross Income

• Disposable Income

• Net Income

The amount of money you see BEFORE taxes and other deductions are taken from your income is called_________

• Gross Profit

• Gross Income

• Net Pay

• Net Income

Select ALL that apply:

Which is/are examples of deductions you may see on your paystub?

• Social Security

• Medicare

• Bonus Pay

• Overtime

Please select ALL that apply:

What are examples of benefits you may receive from your employer that will show up on your pay stub?

• Medicaid

• Health Insurance

• 401 K

• Federal Income Taxes

The amount required by law for employers to withhold from earned wages/salary from employees to pay taxes. This is the largest deduction withheld from an employee’s gross income.

• State Income Tax

• Federal Income Tax

• Corporate Income Tax

• Sales Tax

The nation’s health care program for the elderly and disabled. This tax provides hospital and medical insurance to those who qualify.

• 401 K

• Medicaid

• Medicare

• IRA

A form you must complete when you are employed. The information provided on this form determines the percentage of gross income to be withheld for taxes.

• Social Security Card

• I9

• W2

• W4

The nation’s retirement program. This tax helps provide income for the elderly and pays disability benefits.

• Allowances

• Deductible

• Medicare

• Social Security