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

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