The information provided on this form determines the percentage of gross pay to be withheld for taxes
W-4
100
the amount of money subtracted from the gross pay for mandatory systematic taxes.
Deductions
100
Payment is given with a paper check with a paycheck stub attached.
paper paycheck
100
You are better off being in a _______ than by yourself.
Community
100
Almost ___ % of an individual's paycheck is deducted.
31%
200
The information gathered in this form is for employers to verify the eligibility of individuals for employment thereby avoiding hiring undocumented workers.
I-9
200
Percentage deducted from an individual's paycheck to assist in funding government agencies within the state
State tax
200
Characteristics of one of the three payment options: On payday, the employee receives a written statement detailing the paycheck deductions.
Direct Deposit
200
This tax is paid on both earned and unearned income.
Income Tax
200
What are the three forms of paying a employee?
Paper paycheck, direct deposit, and payroll card
300
Name of few examples of documentation for employment.
passport, driver's license, U.S. military card, and SS card
300
Totals all of the deductions which have been withheld from an individual's paycheck from Jan 1- Last day of the pay period.
Year-to-date
300
Characteristics of the three forms of payment:
This payment is the most common payment method.
Paper paycheck
300
This tax is a set percentage of earned income.
payroll tax
300
What does POS stand for with an electronic card?
Point of Sale
400
A person who relies on the taxpayer for financial support, like a child or nonworking adult
Dependent
400
The total amount of money earned during the pay period before deductions.
Gross Pay
400
Payroll cards are protected by the _____ ______ ____ act. This act protects cardholders from fraud charges if the card is lost or stolen.
Electronic Fund Transfer Act
400
What is the purpose of Social Security tax?
Retirees, people with disabilities, children who lost a parent, a person who has children and lost a spouse
400
Definition: the amount of money left after all deductions have been withheld from the paycheck.
Net Pay
500
Used to determine the amount of federal taxes withheld for from the paycheck.
Allowances
500
What is the percentage of Medicare and SS removed from your paycheck?
Medicare- 1.45% and SS- 6.2%
500
How much is someone liable for if they report their payroll card stolen or lost within 48 hours?
$50
500
How are tax rates determined?
taxpayers, voters, public representitives
500
Provide the name of the tax the employer has to match.