WorksheetsUnderstanding Paychecks & Taxes
Total questions: 10
Worksheet time: 5mins
What does 'gross pay' mean?
Pay after taxes
Total pay before deductions
Money saved in a bank
Pay from working overtime
What does 'net pay' mean?
Total pay before taxes
Money paid for insurance
Take-home pay after deductions
Only federal tax money
Which of the following is a payroll tax?
FICA
Grocery tax
Property tax
Sales tax
FICA stands for money that supports:
Social Security & Medicare
Federal highways
State colleges
Local schools
Why are taxes taken out of paychecks?
To pay for public services
To punish workers
To give money back to employers
To buy groceries for families
If you earn $500 gross pay and have $100 in deductions, what is your net pay?
$500
$100
$600
$400
Which tax is required by the federal government?
Federal income tax
Local library tax
Gasoline tax
State lottery tax
Deductions may include (choose all that apply):
Health insurance
FICA
Groceries
Retirement savings
A pay stub helps employees:
Understand their deductions
Buy new clothes
Avoid paying taxes
Ask for more hours
If your gross pay is $1,000 and deductions are $250, what is your net pay?
$500
$250
$1000
$750
