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WorksheetsEmployment and Taxes
Total questions: 10
Worksheet time: 5mins
Generally, the more education you receive, the higher your lifetime earnings will be.
True
False
The amount of money you're paid, after all taxes and deductions are taken out of your paycheck is called ________.
Gross pay
Year-to-date pay
Net pay
Total pay
Which of the following is a possible tax or deduction that they may show up on your paycheck?
Federal income tax
Contributions to retirement savings
FICA
All of these
The W-4 tax form is used to ___________.
file your tax return.
determine how much your gross pay should be.
tell your employer how much federal income tax to withhold from your paychecks to send to the IRS.
avoid paying income taxes on your paychecks.
Your employer sends you a _______ form that tells you how much you've made and how much you've paid in taxes in the last year.
W-9
W-4
W-2
1040
What do taxes pay for?
Operation of financial institutions
Schools, government departments, roads, and emergency services
Privately-owned businesses
None of the above
The gig economy offers ________.
The migration of workers to high-tech jobs.
The total availability of employment and labor in the economy.
Flexible, short-term, and independent jobs.
An economic system in which assets or services are shared between individuals.
Which of the following would you need in order to fill out your 1040?
Your credit card statement
Your job offer
Your W-2
Your employer benefits documentation
When considering a job offer, you should consider how much you're being paid and any other employee benefits before you accept the offer.
TRUE
FALSE
Healthcare, paid time off, disability insurance, and matching contributions to a retirement account are all types of _________ available from your employer.
benefits
pensions
allowances
deductions
