WorksheetsPayroll Deductions Quiz
Total questions: 15
Worksheet time: 8mins
What is the term for the total amount of money earned before any deductions?
Net Pay
Gross Pay
Voluntary Deductions
FICA Taxes
Which of the following is a type of voluntary deduction?
Federal Income Tax
State and Local Income Taxes
Health Insurance
FICA Taxes
Which tax is specifically for retirement benefits?
Federal Income Tax
State and Local Income Taxes
Social Security
Medicare
Which deduction is specifically for funding healthcare services?
Social Security
Medicare
Federal Income Tax
State and Local Income Taxes
What is Net Pay?
The total amount of money you get before taxes and deductions
The amount of money you get after taxes and deductions
The amount of money you earn from investments
The amount of money you pay in taxes
Gross Pay is calculated before which of the following?
Taxes and other deductions
Savings contributions
Investment returns
Loan payments
Which of the following best describes Net Pay?
Earnings before any deductions
Earnings after taxes and deductions
Total annual salary
Monthly gross income
Gross Pay includes which of the following?
Only base salary
Total earnings before deductions
Only bonuses
Only overtime pay
What should you do if there are only two jobs total according to Step 2(c)?
Check the box on both Forms W-4
Ignore the step
Consult a tax professional
File a separate form
Which filing status has a 2025 standard deduction of $15,000?
Head of household
Married filing jointly
Single; Married filing separately
Surviving spouse
What is the tax rate for a head of household with an income of $250,000 in 2024?
32%
35%
37%
24%
What is the tax rate for a single filer with an income of $700,000 in 2024?
32%
35%
37%
24%
What is the tax rate for a single filer with an income of $50,000 in 2024?
10%
12%
22%
24%
For 2024, which tax bracket applies to a single filer earning $200,000?
24%
32%
35%
37%
What is the highest income range for the 2024 tax brackets for married couples filing jointly?
$487,451-$731,200
$731,201 and up
$383,901-$487,450
$201,051-$383,900
