Pay stub

Barbara's deductions total $38.25. Her gross pay is $425. What percentage of her income is deducted?

Which of the following is NOT one of the top three expenses the government paid for with our tax dollars in 2019?

• Health

• Military

• Interest on Debt

• Education

What are Pre-Tax Deductions and Contributions?

• Contributions taken our of your paycheck BEFORE taxes are calculated on your income

• Contributions taken out of your paycheck AFTER taxes are calculated on your income

• Contributions you put into your bank every pay period

• Deductions that are only for the end of the year

Melinda's gross pay is $880. If the Social Security tax is 6.2%, how much will she pay in Social Security? $_.

REMEMBER: Move your decimal point over twice before you calculate

A benefit is referred to as a cost, such as health insurance, paid in full or in part by an employer?

• True

• False

Whats the difference between gross pay and net pay?

• Gross pay is what the IRS takes for your federal income tax; Net pay is what you take home

• There is no difference between gross and net pay

• Gross pay is before taxes and deductions are subtracted; Net pay is your take-home pay.

• Net pay is before taxes and deductions are subtracted; Gross pay is your take-home pay.

When making a budget, what figure should you use to predict how much money you have to spend?

• Gross Pay

• Net Pay

• Benefits

• Taxes