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Worksheets

Paychecks & Taxes

Total questions: 16

Worksheet time: 8mins

Name
Class
Date
1.

Employers ask their employees to fill out these two forms when they are hired

a)

W2 & I-9

b)

I-9 & W-4

c)

W-4 & W-2

d)

1040 & I-9

2.

What is the account called that you put my retirement savings into

a)

savings account

b)

retirement account

c)

401K

d)

1040

3.

What is the name of the form used to file your taxes

a)

Turbo Tax

b)

1040

c)

401K

d)

H&R Block

4.

What main factor on the W-4 determines the amount of taxes taken from your paycheck?

a)

Your income

b)

how many dependents you have

c)

your deductions

d)

if you are single or married

5.

The money you get to take home, after taxes are taken out, is called what?

a)

gross pay

b)

wages

c)

net pay

d)

salary

6.

What is one of the 3 most common ways your employer may choose to pay you?

a)

pay stub

b)

pay card

c)

savings deposit

d)

pre-paid card

7.

If your paystub reads that you were paid for January 12-25, what is that time called?

a)

pay period

b)

days worked

c)

days paid

d)

pay day

8.

The document you fill out that tells your employer what taxes and other deductions to take from your check

a)

W-4

b)

W-2

c)

I-9

d)

1040

9.

Which document must be mailed to employees no later than January 31st?

a)

W-4

b)

1040

c)

I-9

d)

W-2

10.

What is the last day you can file your taxes?

a)

April 31st

b)

April 15th

c)

January 31st

d)

January 1st

11.

What must you pay no later than December 31st?

a)

your taxes

b)

personal property tax

c)

any late fees

d)

your tax preparer

12.

Wages, tips and commission are all examples of what

a)

money

b)

ways to save

c)

salary

d)

income

13.

The amount of money made before taxes and other deductions is called what?

a)

salary

b)

net income

c)

gross income

d)

hourly wages

14.

What is one factor that qualifies someone as a dependent?

a)

they are 18 years or older

b)

they are 18 years or younger

c)

they do not live at home with you

d)

they pay their own taxes

15.

Why do employees send you the W-2?

a)

to show you what you owe

b)

to help you file your taxes

c)

so that you can pay your taxes

d)

it is a bill for taxes

16.

What is the safest, most common way to be paid by your employer?

a)

pay check

b)

pay stub

c)

direct deposit

d)

savings deposit