Federal Income Tax
State Income Tax
Social Security & Medicare Taxes
Group Health Insurance
Statement of Earnings
100
Federal Income Tax is used for...
What is federal government programs and agencies?
100
State income tax is based on what?
What is taxable income?
100
What does Social Security taxes pay for?
What is retirement and disability benefits and Medicare?
100
Who pays for group health insurance?
Who is the employer and employee?
100
Where can you can find your earnings statement?
What is attached to your paycheck or online?
200
The number of people an employee supports, which helps employers know how much money to withhold for federal income tax.
What are withholding allowances?
200
Withholding allowances, which allow for supporting yourself, your spouse, and others in your family who are your dependents.
What are exemptions?
200
The Social Security tax rate is...
What is 6.2% on the first $97,500?
200
If the employer pays 65% of the annual premium, what percentage does the employee pay?
What is 35%?
200
What is net pay?
What is the amount of money you have left after your employer subtracts all tax withholdings and personal deductions from your gross pay?
300
Carla Good is an actuary. Her gross pay for this week is $425.88. She is married and claims 2 allowances for herself and her husband. What amount will Carla's employer withhold from her pay for federal income tax?
What is $14.00?
300
Rick Delgado earns $43,500 annually as an automobile mechanic. He is married but has no dependents. The state tax rate is 4.6%. How much is taken out for state income tax?
What is $1633?
300
The Medicare tax rate is...
What is 1.45% of taxable income?
300
Marge Torelli is a pilot. Her annual group insurance costs $4,400, and her company pays 80% of the cost. How much of the cost does Marge pay monthly?
What is $73.33?
300
Briana is married and claims 2 allowances. Her gross weekly salary is $450. Each week the company deducts federal ($17), Social Security ($27.90), Medicare ($6.53), medical insurance ($21.20), and savings ($5). She pays no state taxes. What is her net pay?
What is $372.37?
400
If Bob Newhart, a standup comedian, makes $513.66 per week and has $33 in FIT withheld, how many allowances has he claimed?
What is 3 allowances?
400
Dale Ivers is a physical therapist. He earns $59,830 a year and is single with no dependents. The state income tax rate is 5% of taxable income. If he is paid monthly, how much state income tax is deducted monthly?
What is $240.96?
400
Shelly Kelso's gross pay this month is $6,223. Her earnings to date for this year are $23,631. How much does her employer deduct from her paycheck each month for Social Security AND Medicare together?
What is $39.67?
400
Max Fischer is a beekeeper. His annual group insurance costs $11,700. His employer pays 60% of the cost. How much does Max pay semimonthly for it?
What is $195?
400
Terence Hall is single and claims 1 allowance. His weekly salary is $598.00. Each week Terence's employer withholds federal, State (2%), Local (1.5%), Social Security, Medicare, $15.50 for medical insurance, $14.00 for union dues, and $6.00 for a charity. What is his weekly net pay?
What is $430.82?
500
Larry Gold's gross pay for this week as a stock clerk for Hensley's is $375.15. He is single and claims 2 allowances. Using the percentage method of withholding (and the table), what is his withholding for federal income tax?
What is $17.10?
500
Tobi Vail, an aesthetician, has an annual gross pay of $18,200. Her exemptions total $1,500. The state tax on the first $3,000 is 1.5% and on amounts over $3,000 is 3%. Find the annual state income tax deducted.
What is $456?
500
A dental practice hired Stacey Pearl on January 2 as an orthodontist. She earns a $98,000 salary annually. How much is deducted monthly for Social Security?
What is $6,045?
500
Mickey Doren's group medical insurance coverage costs $94.50 semimonthly. His employer pays 65% of the cost. How much is the annual premium?
What is $6480?
500
John Pelson's weekly pay is $972.11. His weekly deductions are: $185 for FIT; 5% of gross for SIT; 2% gross for CIT; Social Security and Medicare; $64 for medical insurance; and $25.00 for charity. Find his weekly gross pay.
What is $1026.49?