PAY ME
Only three things are certain in life; you LIVE, you DIE and this...
What is "You will Pay Taxes"
What do the initials in the abbreviation FICA stand for?
What is the "FEDERAL INSURANCE CONTRIBUTIONS ACT"?
The amount you make BEFORE deductions is called this
What is GROSS PAY"?
This is the earning that shareholders receive in the form of cash, stock or property
What is "DIVIDEND INCOME"?
This is a form that is completed annually by college students to determine their eligibility for financial aid
What is the "FAFSA" form?
This is a type of CONTRACT between you and your employer which indicates the amount of money you will receive for work completed
What is a "PAYCHECK"?
The abbreviation OT on a paystub stands for this
What is "OVERTIME" pay?
In the column of your paystub under this abbreviation you find out how much money you have made during the year
What is "YTD"?
This choice that taxpayers make to either use the “amount allowed” for deductions or itemize their tax deductions on Schedule A is known as this
What is a "STANDARD DEDUCTION"?
This is a program that allows students to work part time (20 hours a week) while continuing their studies at school.
What is "WORK STUDY" (program)?
What is the item attached to the bottom half (the part you keep) of your paycheck called?
What is a "PAY STUB"?
The abbreviation REG on a paystub stands for this
What is "REGULAR" hours worked?
The amount of money you make AFTER deductions
What is "NET PAY"?
This is is revenue (income) received from a bank (or other institution) paid to you for leaving your money in their depository
What is "INTEREST INCOME"?
This is a form of financial aid that DOES NOT need to be repaid and is usually awarded on the basis of academic, athletic or other achievements.
What is a "SCHOLARSHIP"?
This is the form that a new employee fills out so they get a paycheck
What is a "W-4" form?
Look for this on your paystub if you want to know how much is being contributed to your retirement
What is "401k"?
Your employer is supposed to mail this to you by the end of January for you to report your taxes
What is a "W-2 form"?
This is an amount that a taxpayer is entitled to claim as a TAX DEDUCTION (against personal income) when calculating taxable income
What is a "PERSONAL EXEMPTION"?
This is a form of federal or state financial aid that DOES NOT need to be repaid. This is usually given to students who demonstrate financial need.
What is a "PELL GRANT"?
What is the second half of this saying: "The more money you make..."
What is "THE MORE MONEY THEY (IRS/GOVT) TAKE"?
Which tax is NOT taken out of your paycheck here in the state of Florida?
What is "STATE TAX"?
This is the form you use to file your taxes
What is a "1040 form"?
If you had more than one job, then you need to wait
until you have ALL THESE ITEMS from each job,
before you file your taxes
What is a "W-2 FORM"?
This is a loan of money that MUST BE REPAID WITH INTEREST that are to be used for student expenses
What is a "STUDENT LOAN"?