Paychecks: Earnings and Taxes

What is gross income?

• Total pay before taxes

• Total pay after taxes

Ted earns $20 per hour and works 80 hours this pay period. He takes home 65% of his gross earnings. What is his take-home pay for this pay period?

• $1040

• $1300

• $1560

• $1040

How much did Princess pay in Hawai’i taxes this pay period?

(a)  

How much did Ariana withhold in voluntary deductions this pay period?

(a)  

What was Hamza’s net pay for this pay period?

(a)  

Imani’s salary is $100,000 per year. She withholds 23% of her paycheck in taxes, 15% for retirement, and 5% for health insurance. What is her approximate take-home pay for the year?

• $57,000

• $67,000

• $77,000

• $87,000

What is Theodore’s gross income for the year so far?

(a)  

Mei starts a job with a $72,000 annual salary that is paid twice a month. How much should she expect her gross pay to be on her first paycheck?

• $3,000

• $6,000

• $1,500

• $3,600

What percentage of Isabella’s pay is she withholding for 401(k) contributions?

(a)  

In the last pay period, Joana paid $201.60 in total taxes on their gross earnings of $1120. What percentage of their gross income do they pay in taxes?

[(Taxes/Gross) * 100]

• 15%

• 18%

• 20%

• 22%