Payroll Terms
Taxes & Deductions
Payday Math
Laws & Compliance
True or False
100

What do we call the total amount earned before deductions?

What is gross pay?

100

What is the federal program that funds Social Security and Medicare?

What is FICA?

100

If you work 10 hours at $15/hour, what’s your gross pay?

What is $150?

100

What is the federal law that sets minimum wage and overtime?

What is the FLSA (Fair Labor Standards Act)?

100

Overtime pay is 1.5× regular rate.

What is True?

200

The money an employee takes home after taxes is called?

What is net pay?

200

Which tax is taken out for federal income?

What is federal withholding?

200

If your gross pay is $1,000 and deductions are $250, what’s your net pay?

What is $750?

200

True or False: All employees are eligible for overtime.

What is False (some are exempt)?

200

You don’t have to pay taxes if you’re part-time.

What is False?

300

What is the form used to report annual earnings and tax withheld?

What is Form W-2?

300

What form do new hires fill out to determine tax withholding?

What is Form W-4?

300

An employee works 45 hours a week. What’s the overtime pay for 5 hours at $20/hr?

What is $150 (5 × $30)?

300

What’s the current U.S. federal minimum wage? (as of 2025)

What is $7.25/hour? (can update if your state differs)

300

Employers must keep payroll records.

What is True?

400

What is the process of distributing wages to employees?

What is payroll?

400

Health insurance premiums are usually considered what type of deduction?

What are pre-tax deductions?

400

What percentage is Medicare tax withheld?

What is 1.45%?

400

What government agency enforces wage laws?

What is the Department of Labor?

400

FICA taxes are paid by employees only.

What is False (employer matches it)?

500

What do we call a fixed regular payment typically paid monthly or biweekly?

What is a salary?

500

Which two programs does FICA fund?

What are Social Security and Medicare?

500

If your annual salary is $52,000, what’s your biweekly pay before taxes?

What is $2,000?

500

What document shows each employee’s hours and earnings?

What is a pay stub?

500

Interns are never paid.

What is False (many are paid and subject to payroll laws).

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