Paycheck Review

If you pay $81.91 in taxes every weekly paycheck, how much will you pay in a year?

• $2,129.66

• $4,259.32

• $982.92

• $327.64

Tags

CCSS.6.EE.B.7

What is gross pay?

• a pay period of every 2-weeks with 26 pay periods per year

• the amount of money earned before any deductions are subtracted

• the amount of money left in a worker’s paycheck after deductions are taken out

• the amount of money subtracted from a worker’s pay

Tags

CCSS.6.NS.B.3

Which of these is an optional/voluntary deduction?

• healthcare insurance

• state income tax

• Social Security tax

• Medicare tax

Multiplying a worker’s hourly wage amount by the number of hours worked in a pay period equals?

• pay period

• salary

• gross pay

• net pay

Tags

CCSS.7.EE.B.3

What is netpay?

• a pay period of every 2-weeks with 26 pay periods per year

• the amount of money earned before deductions

• the amount of money an employee receives after deductions

• the amount of money subtracted from a worker’s pay

Tags

CCSS.6.NS.B.3

Identify all of the required/mandatory deductions?

• 401K

• Federal income tax

• Social Security tax

• Medicare tax

What does the term "withholding" mean in reference to your paycheck?

• it is the amount of your paycheck that you are NOT being taxed on

• it is how much is being taken out of your paycheck in taxes

• it is how much you are going to owe the government when you file your annual tax return

• it is how much you earn and includes salary, bonus and commissions

Two things that will always be withheld from your earnings are Federal Income Tax and Social Security.

• True

• False

• Depends

Tags

CCSS.6.RP.A.3B

All states require their residents to pay state income tax.

• True

• False

What's a check stub?

• What you give to the bank to deposit.

• The part of a paycheck that lists deductions from your salary

• It's an envelope.