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WorksheetsReading a paystub
Total questions: 15
Worksheet time: 8mins
How much federal income tax is deducted from an employee's wages?
4%
Your employer decides how much is taken out.
It depends on your income level and filing status
10%
What does FICA stand for?
Financial Insurance Conmen Act
Federal Insurance Contributions Act
Federal Income Company Advertising
Financial Income Collection Agency
What is the average rate everyone's wages are taxed for FICA - Social Security?
2%
5%
15%
6.2%
What is SDI?
State Disability Insurance
State Deduction Influx
Student Discount Income
State Denial Information
What are deductions?
money that goes towards your Social Security
when you pay back money you owe someone
a speical type of tax
any amount of money subtracted from your check
Who decides how when and how often you get paid?
the Federal Government
your employer
the State Government
You choose
What is a worker's wages based on?
how many days a person works per week
minimum wage
their years of service
how many hours a person works, and their hourly wage
What is a salary?
a fixed regular amount based upon an agreed amount between the employer & employee
any amount of money subtracted for your check
the time period in which an employee worked and is being paid for.
explains how much you earned, how much you pay in taxes, and other monies that were deducted.
What are wages?
a fixed regular payment based upon an agreed amount between the employer and employee
the total amount of your pay, before deductions are made
the payment of money for labor or services performed
the amount you receive after all deductions are made from your total earnings
What is the time period in which an employee worked and is being paid for?
Wage
Pay Period
gross pay
hourly rate
What is Gross Pay?
any amount of money subtracted for your check
the amount you receive AFTER all deductions are made from your total earnings
the total amount of your pay, BEFORE deductions are made
What is the purpose of a paystub?
explains how much you earned, how much you pay in taxes, and other monies that were deducted
tells you how many hours you worked
it is a check
to show you the time period in which an employee worked and is being paid for
What is the amount you receive after ALL deductions are made from your total earnings called?
Salary
Wages
Gross Pay
Net Pay
Which is an example of a pay period?
bi-weekly
6.2%
income tax
disability tax
True or False: Fewer and fewer employees are required to contribute to paying for their health insurance.
True
False
