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WorksheetsGross vs Net Income AND Income vs Payroll Tax
Total questions: 20
Worksheet time: 48mins
A deduction is
gross income
money added to your income
net income
money taken out of your income
Gross income is:
the total amount of money you earn
the amount of money you receive after decuctions are subtracted
the total amount of money you spend
sales taxes on items you buy
Net income is:
the total amount of money you earn
the amount of money you receive after deductions are subtracted from your gross income
the amount of money that is taken away in the form of taxes
the hourly rate of pay
Marco has the following deductions listed.
Federal Income tax: $44
Social Security tax: $23
Medicare tax: $5
Health Insurance: $24
What is the total amount of his deductions?
$39
$67
$91
$96
David's gross income: $127.25
David's deductions: $25.20
David's net pay: ?
$102.05
$102.45
$112.05
$152.45
Net Income is?
After Tax
Before Tax
Sales Tax
Property Tax
Adam earns $13 for each lawn that he mows. He mows 37 lawns per month. Which statement about his monthly income is true?
His net income is more than $481.
His gross income is less than $481.
His net income is exactly $481.
His gross income is exactly $481.
Which of these statements about gross income and net income is true?
Gross income is a tax on all income that a worker earns, and net income is a tax paid by an employer based on a worker’s wages.
Gross income is a tax paid by an employer based on a worker’s wages. and net income is a tax on all income that a person earns.
Gross income is the amount an employee is paid after deductions and taxes, and net income is the total amount an employee earns before deductions are applied.
Gross income is the amount an employee earns before deductions are applied, and net income is the amount an employee is paid after deductions and taxes.
Tyrone works 20 hours a week at Sonic. He earns $9 an hour. Which statement is true?
His net income is more than $180.
His net income is less than $180.
His gross income is less than $180.
His gross income is more than $180.
Gross income minus deductions equals your net income.
If Amorelle made $384 in gross income and her deductions are $122, what is her net income?
$506
$406
$262
$266
Which type of tax do you pay once a year through the IRS on any money you've earned (job, lottery, etc)?
payroll tax
income tax
sales tax
property tax
Louis's dad pays a tax to the federal government each year based off the money he earns from his lawn mowing business. What type of tax does Louis's dad pay each year?
Payroll Tax
Income Tax
Sales Tax
Property Tax
Jarrod was a contestant on a popular game show and won a $1,000 prize on the show. Jarrod had to pay $200 of his winnings in taxes. Which type of tax did Jarrod have to pay?
Payroll Tax
Income Tax
Sales Tax
Property Tax
Jan pays federal taxes every year based off her yearly income. Which type of tax is calculated by the amount of your income?
Payroll Tax
Income Tax
Sales Tax
Property Tax
What is the difference between Income Tax and Payroll Tax.
Income tax is money the employee pays to the government on their earnings.
Payroll tax is money the employer withholds to fund government programs.
Income tax and Payroll tax are the same.
Income tax is money the employer withholds to funds government programs.
Payroll tax is money the employee pays to the government on their earnings.
