How many paychecks will you receive in most months if you get paid weekly?
100
hourly pay
This type of pay gives you a certain amount of pay for the amount of time you work.
100
W-4 form
This is the form you must complete before getting your first paycheck at a job. On this form you will have to decide how many allowances/dependents to claim
100
tax table
This is what we used in class to look up how much tax you owe on your tax return.
100
April 15.
The date that you have to file your tax return by, assuming this date is not a Sunday.
200
26
How many paychecks do you receive in a year if you get paid bi-weekly
200
Salary
This type of pay is fixed, and will not change even if you work more hours.
200
form W-2
Your employer will send this to you at the end of the year, and it will list your earnings and how much tax was withheld from your paychecks. Also called the wage and tax statement.
200
refund
If your employer withheld too much federal income tax from your paycheck you will get a tax __________.
200
January 31st.
The date that your employer must send you your W-2 so you can file your tax return is __________
300
24
How many paychecks to you recieve per year if you get paid semi-monthly?
300
commission
This type of pay is based on the amount of sales you have in a certain time period.
300
1040EZ
This is a tax return used by people who less than $100,000 per year and have less than $1,500 in interest income. This is the form we have been using in class.
300
FICA tax
this tax is the combination of social security and medicare.
300
income
Salary, tips, interest, are all examples of __________
400
you will receive 3 paychecks per month in 2 of the 12 months.
What is the main advantage of getting paid bi-weekly rather than semi-monthly?
400
tips
This type of pay is generated from customers, and is usually the form of pay for waiters and waitresses.
400
form 1040
If you earn more than $100,000 per year, or more than $1,500 in interest income you should use this tax form.
400
audit
When the government checks your tax return for accuracy they are performaning an ___________
400
You will recieve a larger tax return at the end of the year.
The main advantage of choosing 0 rather than 1 allowance on your W-4 form is
500
each paycheck is bigger than bi-weekly pay
What is the main advantage of getting paid semi-monthly rather than bi-weekly?
500
piece work or piece rate
This form of pay is based on the amount of units produced, and is usually paid to people in a factory.
500
form 1099
This is the document you recieve from your bank at the end of the year, and states how much interest you earned at the bank.
500
YTD
The column on the paycheck stub that indicates you much you have paid in each tax category for the year is the ________ column.
500
each paycheck will be larger (larger net pay).
The main advantage of choosing 1 rather than 0 allowances on your W-4 form is