I'm Rich!
Money a person is given in return for labor or services
What is earnings
An amount of money taken from your paycheck to fund programs like the Military, Health, Science & Transportation
What is Federal tax
Name a Federal program that is funded by federal taxes.
National Institute of Health, Miltary, Veterans Benefits, Disaster Relief, NASA,
A federal program of HEALTH insurance for persons 65 years of age and older
What is Medicare
Someday I would like to have a paycheck from where???
your answer
Money deducted from your paycheck that goes to the government programs like highways, public schools, and libraries
What is State Tax
The period extending from the beginning of the year to the present.
What is Year to Date
When you purchase an item at a store what type of tax do you pay?
Sales Tax
Define the term rate
The amount being paid per hour of work
When I get my first paycheck I will make sure...
Your Answer
What does FICA MED Tax mean
Federal Medicare tax is used to fund health insurance for individuals over 65 years old
Give an example of a deduction you would find on your pay stub?
FiCA
Fed Tax
FICA SS TAX
State Tax
Money is collected by the federal government to provide financial benefits needed in Retirement and for the disabled.
What is Social Security Tax
You were paid $100.00 gross pay would you receive the entire $100.00
NO, the amount you would receive would be less
A federal program of health insurance for persons 65 years of age and older
What is Medicare
Money a person is given in return for labor or services
What is Earnings
The total amount of income from wages BEFORE any payroll deductions & taxes
What is Gross income
What does Year to date mean on your pay check
The period extending from the beginning of the year to the present.
Which Federal Agency collects American's taxes
I R S Internal Revenue Service
Gross Income is
What is the total amount of income from wages before any payroll deductions & Taxes?
Net Income is
What is The amount of an individual's take-home pay after taxes and other deductions have been taken out
What is FICA SS TAX
Social security tax used to fund retirement benefits for individuals over 65 years old
Taxes and other things subtracted from your gross pay.
What is a Deduction
What is Social Security Tax
A federal tax paid to people 65 years and older, survivors, and disability insurance
The amount being paid per hour of work.
What is rate