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Duplicate of Paycheck Basics Flashcards | StudBud
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Duplicate of Paycheck Basics
Duplicate of Paycheck Basics
14 terms
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StudBud Administration
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147 plays
The basics of paychecks #consumer #economics
Flashcards
14 cards
F
Practice quiz
P
Host live
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Questions
14
Answers
1
What is gross income?
Federal with holdings
Income before taxes
Income after taxes
Taxes
2
What is a pay period
Net income
Accumulated deductions
Gross income
length of time for which an employees wages are calculated
3
What is a W-4?
Determines money withheld for taxes
FICA
States amount of money earned
Used to prove citizenship
4
Name a type of deduction
Pay period
Gross income
Net income
Medicare
5
What are examples of payroll withholdings
FICA
W-2
Federal withholding
state withholding
6
How do employees directly put their paycheck into their bank
Payroll Card
Paycheck
Cash
Direct Deposit
7
What's an I-9
Social security
Taxes
Pay period
used to prove citizenship
8
What does YTD mean?
Yearly total deductions
Year to decide
Year to date
Yellow termination deduction
9
FICA
Fun Insurance Cat Act
Federal Contribution Act
Contribution Act
Federal Insurance Contribution Act
10
Taxes are required charges of _____ by local, state and federal governments
Immigrants
Employees
Citizens
Aliens
11
Paycheck
Paper payment for wages earned.
Pay deductions
Payment for deductions
Pop payment for wages earned
12
Net Income
The check amount that is often referred to as take home pay
The amount before deductions
The total amount of the whole check
13
If your gross income is $350 and payroll withholdings are $85 what is your net income
265
241
199
280
14
Deductions
The amount that is subtracted from net pay
The amount that is subtracted from gross pay
The amount that is added from net pay
The amount that is added from gross pay
