Definitions
Money (income) earned from a job AFTER income taxes are deducted.
Net Income
If someone is paid every two weeks on a Friday, what days this month would they receive a paycheck if they were paid this Friday?
September 26
If someone is getting a $3.00/hr raise and they get paid 12.50/hr. now, how much will they get paid per hour after their raise?
$15.50
Is it possible for someone to work 4.14 hours?
Yes
Money (income) earned from a job BEFORE income taxes are deducted
Gross Income
If someone gets paid this coming Friday, is it for the hours they worked this week or last week?
Last week
How many hours does someone need to work to earn overtime pay?
more than 40 hours
If someone works 10am-4pm Monday, Tuesday, Wednesday, Thursday and Friday, how many hours a week do they work?
30 hours
Getting a paycheck every two weeks.
Bi-Weekly
If someone makes 18.00 per hour working, do they get paid the full 18$ in their paycheck?
No, because of income tax deductions
If someone is getting a 10% raise and they make $15.00 per hour, how much will they make per hour after their raise?
$16.50
If someone works Monday, Wednesday, Friday from 3:00pm-5:30pm, how many hours/week do they work?
7.5
Money earned from working a job
Income
If you are paid 70% of your gross income after tax deductions, how much can you estimate you next paycheck will be if your gross income is $350.00?
$245.00
If someone makes $14.00 per hour and calls in sick to one 4 hours shift, how much (gross) income will they lose?
$56.00
If someone earns $10.00/hr. , how many hours would they need to work (gross income) to pay for a 50.00 pair of shoes and a $25.00 shirt?
8 hours
when someone works more than 40 hrs. in a week or on a holiday.
Overtime pay
Give 3 examples of income tax deductions
State income tax
Federal income tax
Social Security
FICA/Medicare
Health insurance
If someone makes "time and a half" for working more than 40 hrs. in a week, how much would they make per hour is they earned $10.00 per hour.
(10x 1.5)
$15.00/hr.
If someone works 4pm-9pm 3 times/week, how many hours do they work a week?
15 hrs.