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3-05 Video " How to read your pay check"

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Last updated 11 months ago
9 questions
Note from the author:
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Watch the following Vidoe and answer questions

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


https://fmpglobal.com/resources/useful-info/understanding-your-paycheck-stub/
Watch the following Vidoe and answer questions

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


https://fmpglobal.com/resources/useful-info/understanding-your-paycheck-stub/
Question 1
1.

How much is the Net Pay?

Question 2
2.

Gross Pay is not you pre-tax amount.

Question 3
3.

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

Question 4
4.

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

Question 5
5.
When was the check issued on_______ /_______ /_______
Question 6
6.

How has paid in more in Federal Income Taxes?

Question 7
7.
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.
Question 8
8.
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.
Question 9
9.
Draggable itemarrow_right_altCorresponding Item
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GARN
This is the amount of money earned during the pay period
CHSPPRT
Federal Income Tax Withheld
FED / FIT / FITW
State in which you earned money
OASDI / FICA / SS / SOCSEC
Social security tax
MED
Medicare tax
STATE / SIT / SITW
Flexible Spending Account and Health Savings Account
Gross Pay
This notes how much you’re putting into your company’s retirement account
LV / LEVY
This is the final amount, after deductions
401(k)
Wage garnish
FSA / HSA
Child support payments
Net Pay
Tax levies