How much federal income tax is deducted from an employee's wages?

• 4%

• Your employer decides how much is taken out.

• It depends on your income level and filing status

• 10%

What does FICA stand for?

• Financial Insurance Conmen Act

• Federal Insurance Contributions Act

• Federal Income Company Advertising

• Financial Income Collection Agency

What is the average rate everyone's wages are taxed for FICA - Social Security?

• 2%

• 5%

• 15%

• 6.2%

What is SDI?

• State Disability Insurance

• State Deduction Influx

• Student Discount Income

• State Denial Information

What are deductions?

• money that goes towards your Social Security

• when you pay back money you owe someone

• a speical type of tax

• any amount of money subtracted from your check

Who decides how when and how often you get paid?

• the Federal Government

• your employer

• the State Government

• You choose

What is a worker's wages based on?

• how many days a person works per week

• minimum wage

• their years of service

• how many hours a person works, and their hourly wage

What is a salary?

• a fixed regular amount based upon an agreed amount between the employer & employee

• any amount of money subtracted for your check

• the time period in which an employee worked and is being paid for.

• explains how much you earned, how much you pay in taxes, and other monies that were deducted.

What are wages?

• a fixed regular payment based upon an agreed amount between the employer and employee

• the total amount of your pay, before deductions are made

• the payment of money for labor or services performed

• the amount you receive after all deductions are made from your total earnings

What is the time period in which an employee worked and is being paid for?

• Wage

• Pay Period

• gross pay

• hourly rate