Income Tax Review

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

• net income

• gross income

• commission

• pay stub

Tags

CCSS.7.RP.A.3

What is the pay you earn in a YEAR?

• hourly rate

• salary

• commission

• pay period

Tags

CCSS.6.RP.A.3B

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

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

• gross pay

• pay stub

• net pay

• salary

What does 6.2% look like as a decimal?

• 6.2
• 0.062
• 0.62
• 0.0062

What does 1.45% look like as a decimal?

• 1.45
• 0.145
• 0.0145
• 0.00145

Gross pay: $23,760 Married, with 4 dependents, State income tax rate 6%. Calculate the State Income Tax.

Exemptions: Married $4,000, Each dependent $2,000.

• $201.33

• $705.60

• $945.60

• $105.60

Tags

CCSS.7.RP.A.3

What form is used by your employer to allow them to withhold taxes from your paycheck?

• I-9
• W-2
• W-4
• 1040EZ

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

• true
• false

The government agency in charge of collecting tax.

• FICA
• IRS
• NBA
• SEC