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Worksheets

Withholding Taxes & Pay Stubs

Total questions: 40

Worksheet time: 3hrs 20mins

Name
Class
Date
1.

How much did Jose earn this pay period? *Before deductions were taken out

a)

$1335.00

b)

$445.00

c)

$340.52

d)

None of the above

2.

How much money did Jose take home this pay period?

a)

$340.52

b)

$445.00

c)

$1,021.56

d)

None of the above

3.

How much has Jose paid in Social Security Tax since the beginning of the year?

a)

$82.77

b)

$27.59

c)

$19.35

d)

None of the above

4.

How much has Jose paid in Disability tax so far this year?

a)

$.60

b)

$1.80

c)

$5.34

d)

None of the above

5.

How much Medicare tax has been deducted from his current pay?

a)

$1.80

b)

$16.02

c)

$6.45

d)

None of the above

6.

What is the total amount of Jose’s deductions for this paycheck?

a)

$104.48

b)

$104.84

c)

$68.39

d)

None of the above

7.

How many vacation days does Jose have left? (8 hours count as 1 day.)

a)

1

b)

3

c)

24

d)

None of the above

8.
How many hours were worked this pay period?
a)
28
b)
40
c)
80
d)
50
9.

How much is their net pay?

a)

458.80

b)

360.41

c)

11.47

d)

98.39

10.

How much does she pay for federal income tax?

a)

27.53

b)

0

c)

6.05

d)

45.58

11.

How many total hours did Jonathan work during this pay period?

a)

85

b)

80

c)

75

d)

5

12.

How much money was deducted for his 401(K) ?

a)

$80

b)

$12.60

c)

$62.00

d)

$35.00

13.

About how frequently does Hope receive a paycheck?

a)

Daily

b)

Weekly

c)

Every two weeks

d)

Monthly

14.

What was the largest deduction for this pay period?

a)

FICA Medicare Tax

b)

FICA Social Security Tax

c)

Federal Tax

d)

NC State Tax

15.

What was the TOTAL amount deducted from Hope's latest paycheck?

a)

$90.00

b)

$284.79

c)

$315.21

d)

$600.00

16.

How much does Hope have deducted for her Dental insurance?

a)

$8.70

b)

$34.50

c)

$76.58

d)

$8.23

17.

What is the gross pay?

a)

$720.00

b)

$188.14

c)

$531.86

d)

$92.40

18.

The Pay Period for this pay stub is

a)

1 week

b)

2 weeks

c)

1 month

d)

yearly

19.

How much does Finn earn hourly?

a)

$40/hr

b)

$20/hr

c)

$15/hr

d)

$12/hr

20.

About how long is the Pay Period for this pay stub?

a)

1 week

b)

2 weeks

c)

1 month

d)

1 year

21.

The amount of money that an employee is paid for each hour of work.

a)

Rate

b)

Gross Earnings

c)

Net Earnings

d)

Withheld Amounts

22.

A payment made by an employer to an employee for work performed, usually on a weekly or bi-weekly basis

a)

Employee

b)

Federal Tax

c)

Paycheck

d)

Overtime

23.

The total amount of money earned by an employee before taxes or deductions have been taken out.

a)

Rate

b)

Gross Earnings

c)

Net Earnings

d)

Medicare

24.

The amount of money that an employee takes home after taxes and other deductions have been taken out of their gross earnings.

a)

State Tax

b)

Paycheck

c)

Net Earnings

d)

Withheld Amounts

25.

Pay that is earned by an employee for working more than the standard number of hours in a day or week.

a)

Medicare

b)

Gross Earnings

c)

Overtime

d)

State Tax

26.

A tax imposed by the federal government on the income of individuals and businesses.

a)

Federal Tax

b)

Net Earnings

c)

State Tax

d)

Paycheck

27.

A tax imposed by the government of a particular state on the income of individuals and businesses.

a)

Federal Tax

b)

State Tax

c)

Net Earnings

d)

Paycheck

28.

A payroll tax imposed by the federal government that is used to fund Social Security and Medicare programs.

a)

FICA

b)

Gross Earnings

c)

Net Earnings

d)

State Tax

29.

A federal health insurance program for people who are 65 or older, as well as for some younger people with disabilities.

a)

Medicare

b)

Net Earnings

c)

Paycheck

d)

overtime

30.

Any deductions or amounts that are taken out of an employee's gross earnings, such as taxes or insurance premiums.

a)

Federal Tax

b)

State Tax

c)

Medicare

d)

Withheld Amounts

31.

Which are considered mandatory deductions from a paycheck?

a)

social security

b)

medicare

c)

federal income tax

d)

all of these

32.

Which are considered optional deductions from a paycheck?

a)

life insurance

b)

health insurance

c)

union dues

d)

all of these

33.

State tax monies might be used for:

a)

healthcare

b)

transportation

c)

education

d)

all of these

34.

Federal tax monies might be used for:

a)

healthcare

b)

groceries

c)

parks & recreation

d)

computer networks

35.

There are taxes on:

a)

income

b)

all of these

c)

property

d)

goods & services

36.

If I decide to purchase a television I will pay what type of tax?

a)

gift

b)

sales

c)

income

d)

property

37.

How do the governments get my income tax monies?

a)

take it out of a paycheck

b)

go to my bank and withdraw it

c)

mail my paycheck to them

d)

they go through the courts

38.

It's Payday! Before you cash that check, read the pay stub to make sure you're getting the right amount. The stub shows how long you worked, what you earned, and how much you paid in taxes and other costs.

Here are some words that may appear on a pay stub. Match the following

a)

Deduction

1.

Money taken from your paycheck to cover things like taxes and health insurance.

b)

Gross pay

2.

The amount of money you can earn before taxes and other expenses are taken out.

c)

Rate

3.

Wage, or the amount of money you earn per unit of time, such as an hour or week.

d)

Net Pay

4.

The amount of money you take home after taxes and other expenses are taken out.

39.

To save space, pay stubs use lots of abbreviations. Employers often invent a few of their own, but certain ones are likely to show up time and time again.

Match the abbreviations to the their definitions.

a)

SSN

1.

Social Security Number

b)

YTD

2.

Year to date: Total earning or deductions from Jan. 1 to date of paycheck.

c)

W-4

3.

A form that tells your employer how much federal tax to take out of your pay.

d)

SUI

4.

State Unemployment Insurance: provides temporary financial assistance when unemployed.

40.

Here are a few more words that might show up on a pay stub.

Match the following

a)

Pretax

1.

Gross Income before tax is calculated.

b)

Allowance

2.

Set amount deducted from gross pay for a specific purpose

c)

Benefit

3.

A cost, such as health insurance, paid in full or in part by an employer.

d)

Current

4.

Relating to the time period covered by a particular paycheck.