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Understanding Your Paycheck Essentials

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Presentation on theme: "Understanding Your Paycheck Essentials"— Presentation transcript:

1 Understanding Your Paycheck Essentials
Paycheck Essentials Trivia 1

2 Paycheck Trivia $100 $200 $300 $400 Employment Forms Payment Methods
Final Trivia Employment Forms Payment Methods Paycheck Stub Payroll Withholdings $100 $200 $300 $400

3 Employment Forms - $100 Answer: Compulsory charges imposed on citizens by local, state, and federal governments.

4 Employment Forms - $100 Question: What are taxes?

5 Employment Forms - $200 Answer: Form that assists in determining the amount of federal taxes withheld from an employee’s paycheck.

6 Employment Forms - $200 Question: What is Form W-4?

7 Form that verifies the employment eligibility of potential employees
Employment Forms - $300 Answer: Form that verifies the employment eligibility of potential employees

8 Employment Forms - $300 Question: What is the Form I-9?

9 One example of documentation required to complete the Form I-9.
Employment Forms - $400 Answer: One example of documentation required to complete the Form I-9.

10 Employment Forms - $400 Question: What is a driver’s license, birth certificate, passport, Social Security card, U.S. Military card?

11 Payment Method - $100 Answer: Employee’s paycheck is deposited into an authorized depository institution account.

12 Payment Method - $100 Question: What is direct deposit?

13 Answer: The most common method of paying employees.
Payment Method - $200 Answer: The most common method of paying employees.

14 Payment Method - $200 Question: What is a paycheck?

15 The most secure way to pay employees.
Payment Method - $300 Answer: The most secure way to pay employees.

16 Payment Method - $300 Question: What is direct deposit?

17 Payment electronically loaded
Payment Method -$400 Answer: Payment electronically loaded onto a plastic card.

18 Payment Method - $400 Question: What is a payroll card?

19 Length of time for which an employee’s wages are calculated.
Paycheck Stub - $100 Answer: Length of time for which an employee’s wages are calculated.

20 Paycheck Stub - $100 Question: What is a pay period?

21 The nation’s health care program for the elderly and the disabled.
Paycheck Stub - $200 Answer:  The nation’s health care program for the elderly and the disabled.

22 Paycheck Stub - $200 Question: What is Medicare?

23 The amount of money an employee
Paycheck Stub - $300 Answer: The amount of money an employee actually takes home.

24 Paycheck Stub - $300 Question: What is a net income?

25 Paycheck Stub - $400 Answer: The nation’s retirement program that helps provide retirement income for elderly and pays disability benefits.

26 What is Social Security?
Paycheck Stub - $400 Question: What is Social Security?

27 Payroll Withholdings -$100
Answer: One of the optional deductions withheld from an employee’s paycheck

28 Payroll Withholdings -- $100
Question:  What is a retirement plan or medical?

29 Payroll Withholdings - $200
Answer: The largest percentage of paycheck deductions.

30 Payroll Withholdings - $200
Question: What is federal withholding tax?

31 Payroll Withholdings - $300
Answer: The deduction that includes Social Security and Medicare tax.

32 Payroll Withholdings - $300
Question: What is FICA?

33 Payroll Withholdings - $400
Answer: The amount of taxes withheld to assist in funding government agencies in the state.

34 Payroll Withholdings $400
Question: What is State Withholding Tax?

35 Final Trivia

36 A person who relies on the taxpayer for financial support
Final Trivia Answer: A person who relies on the taxpayer for financial support

37 Final Trivia Question: What is a dependent?


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