Income Review

What is the amount of money you make before taxes and deductions?

• net income

• gross income

• commission

• pay stub

Which are NOT possible deductions you might find on a pay stub?

• health insurance

• dental insurance

• retirement

• coupons

What is the pay you earn in a YEAR?

• hourly rate

• salary

• commission

• pay period

If you are calculating your MONTHLY paycheck and know your salary, how do you do that?

• divide by 52

• multiply by 12

• add

• divide by 12

If you get paid every 2 weeks and you want to calculate your paycheck, and your salary is 30,000, what do you do?

• 30,000 divided by 2

• 30,000 divided by 26

• 30,000 times 26

• 30,000 times 2

If you know your hourly pay rate and how many hours you worked, how do you calculate your pay?

• add

• subtract

• multiply

• divide

If SOME of your pay was overtime at a higher pay rate, how do you figure out your gross income?

• (normal hours * hourly rate) + (overtime hours * overtime rate)

• hours * overtime rate

• normal hours * overtime hours * hourly rate

• (overtime hours + normal hours) * hourly rate

What is a commission?

• Your pay after deductions are taken out

• When your pay is a percentage of what you sell

• A piece of paper (sometimes electronic) that has your gross pay, net pay, and other information

• The amount of money you make in a year

What is the amount of money you make AFTER taxes and deductions?

• gross pay

• pay stub

• net pay

• salary

If you're looking for the total amount of taxes you have paid so far this year on a pay stub, what should you look for?

• YTD taxes

• deductions this pay period

• gross pay

• net pay