deduction math
Gross pay - deductions = ?
net pay
Health Ins
Health insurance
THIS is your pay before deductions
gross pay
What type of deduction is REQUIRED
taxes
Gross pay - ? = net pay
deductions
Fed tax
Federal income tax
THIS is your pay after taxes
net pay
Some are optional
? - net pay = deductions
gross pay
FICA SS Tax
Social Security
What does YTD stand for?
What are two things that CAN be deductions but are NOT taxes?
401k aka Retirement
and
Health insurance
20 dollars are deducted form your pay check each month for health insurance. What is the YTD amount you have put in at the end of February?
$20
FICA Med tax
Medicare
You work 20 hours this pay period and get paid $10/hour. How much money did you earn (gross pay)?
$200
If you put $5 per month into retirement, how much money will you have saved for retirement at the end of the year?
$60
You earn $500 gross pay this pay period. $100 are deducted from your pay check. What is your net pay?
$400
401k
retirement
What does SSID stand for?
Social Security Identification OR Social Security Number
What are 2 things that you can choose to have deducted?
401k and health insurance