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Worksheets

Income and Taxes

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

Income earned from employment or self employment

a)

Wage

b)

Earned Income

c)

Salary

d)

Piecework

2.

Payment for work (often weekly or every other week)

a)

Wage

b)

Minimum Wage

c)

Bonus

d)

Piecework

3.

The lowest hourly wage employers can pay most workers by law

a)

Minimum Wage

b)

Wage

c)

Overtime Wage

d)

Salary

4.

Where is the highest amount for minimum wage?

a)

Washington DC

b)

Virginia

c)

California

d)

Texas

5.

Most minimum wage workers are teens

a)

TRUE

b)

FALSE

6.

Paid to eligible workers who work more than 40 hours per week

a)

Overtime Wage

b)

Bonus

c)

Tips

d)

Commission

7.

Fixed payment for work (expressed as an annual figure)

a)

Salary

b)

Wage

c)

Commission

d)

Bonus

8.

How many hours are in a typical work week?

a)

40

b)

30

c)

26

d)

35

9.

Income paid as a percentage of sales made by a salesperson

a)

Commission

b)

Tip

c)

Gratuity

d)

Bonus

10.

Total Income before deductions

a)

Gross Pay

b)

Net Pay

c)

G.E.T Pay

d)

Payroll

11.

What are 3 examples of mandatory deductions from gross pay?

a)

FICA taxes, State taxes, and Federal taxes

b)

Payroll tax, Insurance premiums, and Healthcare

c)

State taxes, Federal taxes, and Insurance premiums

d)

Income tax, FICA taxes, and Insurance premiums

12.

Internal Revenue Service use your Social Security Number as your Tax Identification Number

a)

TRUE

b)

FALSE

13.

Who would pay more in taxes?

a)

Single person

b)

Married person with 1 child

c)

Married person with 3 children and takes mother depends on their income

14.

If you are self employed, you must pay both the employer share and the employee share of the FICA taxes

a)

TRUE

b)

FALSE

15.

Click the states below who DO NOT have a state income tax

a)

Nevada

b)

Arkansas

c)

Wyoming

d)

Washington

e)

South Dakota