Math
Jim works 41 hours and gets paid $16.75/hour. What will be his gross pay?
What is $686.75
The employee knows exactly which day his/her paycheck will be deposited into their bank account. They will not receive an actual paycheck that will need to be cashed.
What is Direct Deposit
This tax includes two separate taxes: Fed OASDI/EE or Social Security and Fed MED/EE or Medicare.
a) FICA
b) OSU
c) EEO
What is FICA.
The total amount of money earned during the pay period before deductions.
What is Gross Pay.
This is the type of deductions that must be taken out of your paycheck. Such as state or federal taxes.
What are required or mandatory deductions
If Jaque works 40 hrs and she gets paid $22.31 per hour, what is her gross pay?
What is $892.40
This is what you call the document that you get when you receive money for working and shows the gross pay, deductions, and net pay.
What is Paycheck and stub
Totals all of the deductions that have been withheld from an individual's Paycheck from Jan. 1 to the last day of the pay period indicated on the paycheck stub.
a) taxes
b) Year to date
c) withholdings
What is Year to date.
The amount taken from the employee's paycheck for health benefits.
What is Medical
What form must an employee complete when beginning a new job? Usually during orientation or the first day of work.
What is W-4
If Kevin works 40 hours a week and his normal paychecks gross is $600, then how much does he get paid per hour? (Hint: you need to use division to solve this!) $600 / 40 = ?
What is $15.00 per hour.
There may be numerous fees associated with this payment method.
a) direct deposit
b) payroll card
c) gift card
What is Payroll card
The amount of money left after all deductions have been taken from the gross pay earned in a pay period.
What is Net Pay
The amount of money subtracted or deducted from the gross pay earned in a pay period.
What is Deductions.
What is the name of the government service that audit's our taxes?
a) DNA
b) FFA
c) IRS
What is IRS.
What is Joe's social security deduction of 6.5% (0.065) if his gross pay is $960.00?
What is $62.40
This payment method is the least secure for employees.
a) direct deposit
b) paycheck with stub
c) payroll card
What is Paycheck with stub
The amount an employee contributes each pay period so that he has something when he/she retires.
What is Retirement plan.
The type of deductions that are optional.
What is Voluntary Deductions
Somebody you can claim on your taxes and W-4 form.
What is a dependant.
If Joe's medicare deduction is 1.45% (0.0145) then how much of a deduction would be take out of his $600 pay check?
What is $8.70.
Receiving money faster, more security, and better for the environment are all perks of this type of payment.
What is Direct Deposit.
The amount required by law for employers to deduct/withhold from earned wages to pay taxes.
What is Federal/State/Local Withholding Tax.
The percentage deducted from an individual's paycheck to assist in funding government agencies within the state.
What is State withholding tax.
The personal information that is needed to fill out forms and located on a paycheck stub.
What is confidential information