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WorksheetsWithholding Quiz
Total questions: 15
Worksheet time: 44mins
Name
Class
Date
1.
For which of the following would an employer withhold money from an employee's pay?
a)
Federal Income Tax
b)
Social Security Tax
c)
Medicare Tax
d)
All of the Above
2.
The total income earned before withholdings is called...
a)
Gross Income
b)
Deductions
c)
Net Pay
d)
Exemptions
3.
Marcia earns a bi-weekly paycheck of $3,025. How much of her paycheck is withheld for Social Security?
a)
$43.86
b)
$185.57
c)
$187.55
d)
$177.55
4.
Marcia earns a bi-weekly paycheck of $3,025. How much of her paycheck is withheld for Medicare?
a)
$53.86
b)
$187.55
c)
$185.77
d)
$43.86
5.
Marcia is married with 1 dependent and earns a bi-weekly paycheck of $3,025. Her state tax is 2.7%. What is her annual state income tax?
a)
$2,005.61
b)
$1,961.55
c)
$1,691.55
d)
$1,169.55
6.
Marcia earns a bi-weekly paycheck of $3,025. What is her annual federal income tax?
a)
$15,350
b)
$12,530
c)
$11,350
d)
$12,350
7.
A deduction is...
a)
an amount deducted from the total federal income tax owed.
b)
the amount of money left after all withholdings are deducted by the employer.
c)
an amount excluded from tax and deducted from the total income earned.
d)
a federal tax that all US citizens are responsible for paying.
8.
A tax credit is ...
a)
an amount deducted from the total federal income tax owed.
b)
the amount of money left after all withholdings are deducted by the employer.
c)
an amount excluded from tax and deducted from the total income earned.
d)
a federal tax that all US citizens are responsible for paying.
9.
Last year Robert earned $401,990. He has a total of $33,850 in deductions and $1,300 tax credit. What is his total federal income tax?
a)
$96,124
b)
$99,124
c)
$90,124
d)
$93,124
10.
The year before last year Robert paid $51,150 in federal income tax. What was his total income?
a)
$239.547.57
b)
$229,457.57
c)
$219,547.57
d)
$219,457.57
11.
What does IRS stand for?
a)
Interesting Rich Society
b)
Internal Rescue System
c)
Internal Revenew Service
d)
Investment Return Section
12.
You work 20 hours a week at Dunkin and make $10 an hour. Your federal tax withheld is $35, your NJ state tax is $12, Social security is 6.2% and medicare is 1.45%. What is your net pay for the week?
a)
$128.85
b)
$137.70
c)
$200
d)
None of the Above
13.
The tax which funds retirement benefits for workers over 65.
a)
Medicare
b)
Social Security
c)
Welfare
d)
401K
14.
0.81% written as a decimal is...
a)
.81
b)
.00081
c)
.081
d)
.0081
15.
BONUS QUESTION
You must file your tax return by this date every year.
You must file your tax return by this date every year.
a)
April 15
b)
January 1
c)
July 4
d)
December 31
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