Taxes

FICA taxes are

• U.S. federal payroll taxes imposed on both employees and employers to fund Social Security and Medicare
• U.S. federal payroll taxes imposed on employees only to fund Social Security and Medicare.
• U.S. federal payroll taxes imposed on both employees and employers to fund Social Security.
• U.S. federal payroll taxes imposed on employers only to fund Social Security and Medicare

Tags

CCSS.6.RP.A.3B

Roads, police, schools, governmental agencies, fire and emergency services are all funded by taxes

• true
• false

Tags

CCSS.6.RP.A.3B

Helps provide retirement income for the elderly and pays disability benefits

• medicare
• social security
• state income tax
• federal income tax

Tags

CCSS.7.RP.A.3

Also known as take home pay, this is the amount left after all payroll deductions have been taken from the gross income

• gross pay
• withholdings
• net pay
• real pay

Tags

CCSS.7.RP.A.3

Which is bigger, gross pay or net pay?

• gross pay
• net pay

If Darien earns $120 net pay each paycheck and receives a paycheck each week, how much should he include as earnings in his yearly budget?

• $6,220
• $6,000
• $6,240
• $5,760

Tags

CCSS.7.EE.B.3

Where should employers send the tax money collected from employees?

• the government
• the FICA
• the ERS
• the IRS

What is this form?

• w2
• w4
• 1040
• 1040ez

What is this form?

• w2
• w1
• w4
• w6

__________ is the deadline for employers to provide you with the W2.

• January 31st
• April 15th
• January 15th
• April 31st

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5