Financial Lit and Pay Stubs

Question 1

Tax that helps pay for health care costs for individuals over 65 and those with a disability.

Accepted Answer

Medicare Tax

Question 2

Form you will fill out when taking a job that determines how much money will go toward federal taxes from each paycheck.

Accepted Answer

W-4

Question 3

Those that take financial literacy classes are more likely to do what?

Accepted Answer

Save, pay off their credit cards, and spend less

Question 4

Tax that pays for retirement costs.

Accepted Answer

Social Security Tax

Question 5

Paycheck deduction that is a retirement savings account. You don't pay income tax on that money until it is withdrawn.

Accepted Answer

401 K

Question 6

Deduction that allows you to set aside before-tax portions of your pay for things like childcare and medical expenses.

Accepted Answer

Flexible Spending Accounts (FSA)

Question 7

Including student loans and credit card debt, the average college student carries how much debt?

Accepted Answer

40K

Question 8

State with no state income tax.

Accepted Answer

All of the above

Question 9

Paycheck deduction that covers medical costs.

Accepted Answer

Health Insurance

Question 10

Tax that pays for services like roads, public schools and libraries.

Accepted Answer

Federal and State Income Tax

Questions 10