2.5 FA HW

What are the Deductions from your earnings called? *

• Gross Pay and Interest

• Savings

• Taxes, FICA, & Social Security

• Net Pay

What you bring home after all your Deductions? *

• Gross Pay

• Savings

• Annual Pay

• Net Pay

What you make before deductions?

• Gross Pay

• Savings

• Earned Income

• Net Pay

What is a pay stub?

• Credit Report

• Earning Statement

• Report Card

• Credit Score

What percent of gross pay is Medicare tax?

• it varies

• 1.45%

• 6.2%

• 7.65%

What percent of gross pay is federal income tax?

• it varies

• 1.45%

• 6.2%

• 7.65%

What percent of gross are payroll taxes (social security + medicare)?

• it varies

• 1.45%

• 6.2%

• 7.65%

Aaron has a gross weekly income of $721.15. How much will be deducted from his paycheck for Social Security?

• $447.11

• $44.71

• $55.17

• $10.46