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/

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How much is the Net Pay?

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Gross Pay is not you pre-tax amount.

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

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

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When was the check issued on_______ /_______ /_______ 

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How has paid in more in Federal Income Taxes?

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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.

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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.

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Draggable item		Corresponding Item

Draggable item		Corresponding Item
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