All About Pay
Forms, Forms, Forms
Job Classifications
Misc 1
Misc 2
100
If a person is salaried, it means that they get paid by the...
year
100
the form you fill out when you start a new job.
W-4
100
How much must a person work to be considered full time? When does overtime kick in?
35 hours / 40 hours
100
what is another name for take home pay?
Net pay
100

What is the current minimum wage?

$13.00

200
How are wage workers paid? What is piece work?
By the hour, day, or item. Piecework is where you get paid for each item that you make.
200
What is the number associated with the tax return form?
1040
200
A person hired to complete a specific job for a specific rate is called a ____ worker.
Contract
200
What is the name for pay before taxes are taken out? What is the government agency that collects income taxes?
Gross Pay Internal Revenue Service (IRS)
200

what is the difference between being paid bi-weekly and twice a month?

Bi-weekly- paid every other week on the same day (26 pay periods)

Twice a month- paid on two specific dates each month (24 pay periods)

300
what is the difference between a commission and a bonus?
commission- being paid for making a sale bonus- getting extra because the company made a profit or the worker met a certain quota.
300
The forms you should be sent at tax time. Where do they com from
W-2: Earned income-employer 1099-INT- Unearned income
300
What is the difference between a part time worker and a temporary worker?
PT- Work fewer than 35 hours T- fill a short-term position * who are temp workers paid by?
300
When should you have the forms necessary to fill out your tax return? When do you need to have your taxes filed by?
January 31 April 15
300
What web address can help you e-file your federal tax return?
www.irs.gov
400
why are workers like waiters or waitresses able to be paid below minimum wage? what is this type of pay called?
These types of workers receive tips. The tips are supposed to make up for what they are not being paid by their employer. Sub-minimum wage.
400
What are exemptions? Examples of a dependent?
people the taxpayer is responsible for. Children Infirm Parents
400
How would you calculate how much would be on the pay check of a salaried worker?
Pay per year divided by the number of pay periods.
400
Who most commonly uses the head of household filing status?
Single Parents
400
how many times can an individual be claimed as a dependent?
Once
500
What is the premise of the Fair Labor Standards Act?
Equal pay for equal job.
500
How would you calculate the pay check of a minimum wage worker who worked 7 hours of overtime?
(8.25 x 40) + (12.38 x 7)
500
What are some advantages for direct deposit of either a pay check or your tax refund?
Faster, don't have to take yourself to the bank, can go strait into savings.
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