Taxes Review

Money you make from working such as salary, tips, commissions, wages, and self-employment.

• Unearned Income

• Gross Pay

• Net Pay

• Earned Income

Incomes from sources like investments, inheritance, and interest.

• Unearned Income

• Gross Pay

• Net Pay

• Earned Income

How many hours are there in the work week?

• 35 hours

• 40 hours

• 45 hours

• 50 hours

What is the Overtime Rate of pay?

• Your hourly rate.

• 1 1/4 times your regular rate of pay

• 1 1/2 times your regular rate of pay

• 2 times your regular rate of pay

What is the total pay earned BEFORE taxes or deductions are taken out?

• Earned Income

• Gross Pay

• Net Pay

• Unearned Income

What is your take home pay, after taxes and deductions are taken out of the check?

• Earned Income

• Gross Pay

• Net Pay

• Unearned Income

Which of the following is NOT a paycheck witholding?

• Federal Income Tax

• State Income Tax

• FICA Tax

• Sales Tax

Who is the federal agency that collects tax revenue for the federal government?

• IRS

• FBI

• FDIC

• DOC

This tax is the largest source of income for the federal government.

• State Income Tax

• Federal Income Tax

• FICA Tax

• Medicare Tax

What is the tax levied by the state on your income?

• State Income Tax

• Federal Income Tax

• FICA Tax

• Medicare Tax