Pre Quiz Paychecks Income

Your paycheck paystub lists your pay and deductions for:

• current pay period

• year to date period

• both A & B

Gross pay refers to:

• the amount you receive after your employer takes out withholdings and deductions

• the amount you receive before your employer takes out withholdings and deductions

• old and disgusting currency

Whether you receive your pay by check, direct deposit or payroll card, it is listed on the paystub as:

• net pay distribution

• federal withholding

• pay rate

Tags

CCSS.RI.6.7

CCSS.RI.7.7

CCSS.RL.11-12.7

CCSS.RL.7.7

CCSS.RL.9-10.7

Tax information stated on your paycheck includes:

• your marital status (whether you’re married or single)

• the number of withholding allowances (personal exemptions)

• both A and B

Your Social Security number is listed on each paystub.

• true

• false

An example of a voluntary deduction is:

• health insurance

• Social Security

• income tax

An example of a mandatory withholding is:

• medical insurance

• 401(k) plan

• Medicare

Your withholdings for taxes are determined by:

• your W-2

• your W-4

• your W-6

State income taxes are withheld:

• in all 50 states

• In most states

• In a few states

Funds for 401(k) retirement savings plans are taken from pre-tax wages.

• true

• false