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TAXES
YOUR PAYCHECK
PHILOSOPHIES
THE FED
KNOW THE LAW
100
TAKE HOME PAY
What is NET PAY
100
You need proof of age and ID to get these.
What are WORKING PAPERS?
100
$7.25 PER HOUR
What is MINIMUM WAGE
100
A government form that tells your employer how much tax to withhold from your paycheck.
What is A W4 FORM?
100
THIS FEDERAL LEGISLATION MADE IT ILLEGAL TO EMPLOY CHILDREN IN HAZARDOUS OR DANGEROUS PLACES.
What is the CHILD LABOR ACT
200
TAX LEVIED WITHOUT REGARD TO A TAXPAYER'S INCOME OR ABILITY TO PAY
What is A REGRESSIVE TAX?
200
SET AMOUNT OF PAY PER WEEK
What is SALARY
200
AMOUNT OF PAY BEFORE TAXES ARE DEDUCTED
What is GROSS PAY
200
YOU DRINK THE SODA, YOU PAY THE TAX. YOU CROSS THE BRIDGE, YOU PAY THE TAX. WHAT TAX PHILOSOPHY IS THIS?
What is the BENEFITS RECEIVED PHILOSOPHY?
200
YOU PAY THIS INCOME TAX TO THE CITY OF PHILADELPHIA.
What is CITY WAGE TAX?
300
TAXES, MEDICAL, DENTAL, VISION INSURANCE, COST OF UNIFORMS, ETC. TAKEN OUT OF PAY
What is DEDUCTION
300
WITH THIS KIND OF TAX, YOUR TAXES INCREASE AS YOUR INCOME INCREASES.
What is PROGRESSIVE TAX?
300
INCOME TAX PAID TO THE STATE
What is STATE INCOME TAX
300
TAX PAID TO PROVIDE INCOME UPON RETIREMENT
What is SOCIAL SECURITY
300
TAX PAID TO PROVIDE MEDICAL CARE AFTER RETIREMENT
What is MEDICARE TAX
400
INCOME TAX PAID TO US GOVERNMENT
What is FEDERAL TAX
400
AMOUNT OF PAY OR DEDUCTIONS TOTAL UP TO THE CURRENT DATE
What is YEAR TO DATE
400
DO THE YEAR TO DATE AMOUNTS ON A CHECK INCREASE, DECREASE, OR STAY THE SAME WITH EACH NEW PAY CHECK
What is INCREASE
400
People that you financially support (children) for tax purposes.
What are DEPENDENTS
400
NUMBER OF HOURS PER SCHOOL WEEK THAT STUDENTS ARE ABLE TO WORK
What is 18
500
FEDERAL INCOME TAX IS BASED ON
THE TAXPAYER'S ABILITY TO PAY
500
USE THIS SHORTCUT TO QUICKLY CONVERT HOURLY PAY TO ANNUAL SALARY.
What is the 2000 RULE?
500
TEENS BETWEEN THESE AGES MUST HAVE WORKING PAPERS.
What is 14-17
500
THE AMOUNT OF YOUR CHECK AFTER TAXES AND OTHER DEDUCTIONS.
What is NET PAY
500
IF YOU ARE UNDER THIS AGE, YOU MAY NOT GET WORKING PAPERS.
What is 14?