Parts of a Paystub
The business or company you work for.
Employer
Total amount of money you earn before taxes and deductions
Gross Pay
Money paid to federal government.
Federal Income Tax
If your Gross Pay is $1,000 and your deductions are $500 this pay period. What is your Net Pay?
$500
How much more do you get paid for working overtime?
Time & half
The date that you get paid.
Pay Date
Total amount of money you take home after taxes and deductions.
Net Pay
Money paid to local state.
State Income Tax
Your gross pay for this pay period is $800.00 and your deductions total $369.00. What is your net pay for this pay period?
$431.00
When you work for someone else, you are called an______________.
Employee
The abbreviation for the amount of money you have earned so far that year
YTD
What is Rate?
How much you get paid per hour
Are federal income tax & state income tax mandatory or voluntary?
Mandatory
If your Gross pay is $1,234.56 and your deductions are $123.45, What is your take home pay?
$1,111.11
What is the difference between a paycheck and a paystub?
Paycheck=money to put in bank account. Paystub=information on the breakdown of earnings/taxes/deductions.
Any hours worked more than 40 hours/week.
Overtime
What are deductions?
The amount of money taken from your paycheck.
Name another mandatory withholding besides taxes.
Medicare, Social Security, FICA, SDI
If your net pay is $777.00 and your deductions were $120.00. What was your original gross pay?
$897.00
True/False: State income taxes are withheld in all 50 states.
False. Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not have state income tax.
The specific week(s) covered on that paystub.
Pay period
What does SSN stand for?
Social Security Number
Name a voluntary deduction that can be taken out of your paycheck?
(health, savings, meals, parking, etc...)
This pay period your gross pay was $1,500.00 and your Take home pay was $1,288.34. What amount of total deductions were taken out of your paycheck?
$211.66
What is 10% of 400?
40