WorksheetsPay Stubs and Taxes
Total questions: 25
Worksheet time: 13mins
Net pay is ...
income before deductions
income after deductions
income you take home
income with holdings
What does FICA stands for?
For Insurance Contributing Animals
Formal Initiative Costing Association
Federal Insurance Contributions Act
None of the above
Money paid to the government
Paystub
Current
Taxes
Net Pay
Money taken out of a paycheck to cover expenses including taxes and health insurance
Deductions
Taxes
Paystub
Net Pay
Who primarily uses our tax money? (hint: choose 2 correct answers)
Your employer
The state government
The Federal government
Local Businesses
Our income tax and FICA is spent on all of the following EXCEPT:
Social Security
The Military
Private School Education
National Parks
Which of the following is NOT a category in the Federal government's spending?
Mandatory spending
Discretionary spending
Interest on loans issued
Interest on national debt
What is the purpose of a W-2 form?
It has all your income and deductions for the entire year.
It tells your employer know how much to withhold from your paycheck
You will use it to file your taxes with the IRS.
You will use it to file your taxes with the state of Ohio.
What item would you DEFINITELY see on a paystub?
Retirement
Healthcare
Gross Pay
Your occupation/role
Jason filed his 2021 tax return and owes money. If he doesn't want to pay a fee, he needs to file his taxes by what date?
April 15th
October 15th
December 31st
January 1st of the next year
A tax in which the tax rate increases as the taxable amount increases (hint: think Ohio and Federal taxes)
When you start a job, you will fill out which form to tell your employer the amount of money to withhold for taxes:
W-4
I-9
W-2
Payroll and _________ are taxes that are deducted from a person's paycheck.
income
property
sales
estate
The agency that enforces tax laws and collects taxes.
FICA
FDA
IRS
TSA
