WorksheetsAnalyzing Paystub/Types of Forms
Total questions: 10
Worksheet time: 6mins
Match the following
**I am received in January
**There is one of me for every job you work
**You can tell how much you earned and how much you paid in taxes by
reading me
W-2 Form
**I am received in January
**You get me if you are not an employee but were paid by a company
**You probably didn’t get taxes withheld if you got me, so you may have a
big tax bill coming up
1099 Form
**I am completed every April
**Anyone can use me
**Beware, there is a LOT to fill out
1040 Form
**I am received whenever you start a job
**You list information about yourself and your family on me
**I determine how much money gets taken out of each paycheck
W-4 Form
**I am received whenever you start a job
**You use me to prove that you are eligible to work in the U.S.
**You must provide forms of identification when submitting me
I-9 Form
Money earned before any deductions or taxes are taken out.
gross income
net income
deductions
federal withholding tax
Amount of money you earn after deductions and taxes have been subtracted from gross income.
gross income
net income
deductions
federal withholding tax
The amount taken out of your paycheck from gross income (e.g. taxes).
gross income
net income
deductions
federal withholding tax
Employer deductions to cover your federal income taxes based on income level and tax withholding allowances on your W-4.
gross income
net income
deductions
federal withholding tax
Similar to Federal tax withholding but for the state; varies based on the state you live in.
state withholding tax
social security tax
medicare tax
federal withholding tax
Percentage of your income that is withheld to fund Social Security benefits for retirees, disabled individuals and survivors.
state withholding tax
social security tax
medicare tax
federal withholding tax
Funds the Medicare health insurance program for individuals aged 65 and older and certain individuals with disabilities.
state withholding tax
social security tax
medicare tax
year to date (YTD)
Shows the cumulative totals of your income, deductions, and taxes from the beginning of the calendar year to the current pay period.
state withholding tax
social security tax
medicare tax
year to date (YTD)
The first place to start with your budget is to look at your income.
True
False
