Taxes and Your Pay Stub

Hope's employer deposits her paycheck directly into her checking account. How much would her employer have deposited into Hope's checking account on the most recent payday of 5/21/18?

• $40.00

• $284.79

• $315.21

• $600.00

About how frequently does Hope receive a paycheck?

• Daily

• Weekly

• Every two weeks

• Monthly

Which of the following statements are TRUE? (choose ALL correct answers)

• Hope actually received her pay on the last day of her pay period.

• Hope's net pay was $600 for this pay period.

• Hope's net pay for this pay period was $284.79.

• Hope paid $76.58 this pay period for the health insurance plan provided to her by her company.

Which of the following benefits does Hope pay for through payroll deductions? (choose ALL correct answers)

• Retirement

• Tuition reimbursement

• Health

• Dental

What was the TOTAL amount deducted from Hope's latest paycheck?

• $90.00

• $284.79

• $315.21

• $600.00

Hope's contribution to her RETIREMENT plan

• is a post-tax contribution in which federal income taxes are paid

• is pre-tax and therefore not taxed for federal income tax purposes

• is a mandatory payroll deduction

• is taxed at a rate of 15%

What was the largest deduction for this pay period?

• Medicare Tax

• Federal Tax

• State Tax

• Retirement

One of Hope’s coworkers quits, and during the next pay period Hope works 60 hours instead of 40 to help cover the shifts. Which of Hope’s deductions will definitely change as a result?

• Her health

• Her Federal tax

• Her dental

• Her retirement

Which of the following statements are TRUE? (choose ALL correct answers)

• This is the first pay period of the year for Hope.

• Hope's hourly pay is $40 per hour.

• Hope has contributed $540.00 to her retirement plan so far this year.

• Hope has paid $810.00 in federal taxes so far this year.

Assuming that Hope receives a paycheck at regular intervals similar to the stub shown, how many pay periods has Hope had year-to-date (YTD)?

• 2

• 3

• 8

• 9