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Understanding Your Paycheck (Financial Literacy) Flashcards | StudBud
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Understanding Your Paycheck (Financial Literacy)
Understanding Your Paycheck (Financial Literacy)
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Financial Literacy for 6th Graders
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Provides health insurance for people over 65 years of age.
Medicare
Hospital
Taxes for Care
Careful There
2
Is the portion of your earnings that is taxed when you file your tax return.
Gross Pay
Taxable Income
Income
Taxes
3
Any cost an employee has to pay because of the job he or she was hired to do.
Money
Job Expense
Taxes
Employee Cost
4
An increase in pay.
Benefits
Pay Benefits
Pay decrease
Raise
5
Pay for retirement and disability benefits.
Medicare
Income
Social Security Taxes
Taxes
6
Is the final calculated amount of a paycheck after federal taxes are withheld.
Gross Pay
Direct Deposit
Pay Day
Net Pay
7
Is the number of dependents you have.
Withholding allowances
Progressive
Kids
Taxes
8
Is any amount that is subtracted from gross pay.
Employee Benefits
Gross Pay
Deduction
Money
9
Are anything of value that is offered or provided to employees in addition to wages.
Employee Benefits
Money
Benefits
Deduction
10
Describes what something is worth in money alone.
Value
Expense
Monetary Expense
Monetary Value