3-05 Video " How to read your pay check" - Ann Dill | Library

Instructions

Watch the following Vidoe and answer questions

https://www.youtube.com/watch?v=-4qkis2FooU

https://fmpglobal.com/resources/useful-info/understanding-your-paycheck-stub/

1

How much is the Net Pay?

1

Gross Pay is not you pre-tax amount.

1

To get your net pay: you take your gross pay subtract deductions and taxes to equal net pay

1

How much money has been put into 401(K) year to date?

1

When was the check issued on_______ /_______ /_______ 

1

How has paid in more in Federal Income Taxes?

1

Depending on where you live, you may or may not be required to pay a _______  income tax. As with federal taxes, money for state taxes is withheld from _______ paycheck.

1

The federal government requires every working American to contribute to Medicare, a U.S. government insurance plan that provides hospital, medical and surgical benefits for Americans aged 65 and older, and for people with certain disabilities. Every worker contributes _______ % of their gross income to Medicare and every employer pays an additional _______ % on behalf of each employee.

1

Draggable item		Corresponding Item
GARN		This is the amount of money earned during the pay period
OASDI / FICA / SS / SOCSEC		Federal Income Tax Withheld
CHSPPRT		State in which you earned money
STATE / SIT / SITW		Social security tax
MED		Medicare tax
LV / LEVY		Flexible Spending Account and Health Savings Account
Gross Pay		This notes how much you’re putting into your company’s retirement account
FSA / HSA		This is the final amount, after deductions
FED / FIT / FITW		Wage garnish
401(k)		Child support payments
Net Pay		Tax levies