FinLit:Tax Quiz

Autumn has a job that pays $15.75 per hour. Her paystub list her 401K withholding as $32, FICA of $23, FIT of $33, and healthcare payment of $16. What is her net pay if she works 30 hours?

• $472.50

• $368.50

• $104.00

• $384.50

Taxes are due on this date, unless that date falls on a Sunday.

• January 15th

• April 15th

• May 15th

• July 15th

How much did Elyse pay in Federal Income Tax?

• $2592.10

• $2121.63

• $470.47

• $3947.30

What percent of Elyse's income was paid towards Federal Income Tax?

• 10.3%

• 13.5%

• 12.2%

• 11.5%

How much did Elyse pay in State Income Tax?

• $2592.10

• $2121.63

• $1539.90

• $3947.30

Did Elyse participate in her employer's retirement plan?

• Yes

• No

What is the total amount of all taxes, including state taxes that Elyse had withheld from her paycheck?

• $8079.30

• $6539.40

• $7023.47

• $6068.93

How much tax would a single taxpayer with $46,525 in taxable income pay? (Use your tax table from your packet)

• $5853

• $5798

• $5864

• $5952

How much taxable income does a married filing jointly taxpayer have if they owe $4932 in taxes? (Use your tax table from your packet)

• $44,500-$44,550

• $41,00-$41,050

• $47,950-$48,000

• $46,750-$46,800

True or False:

Box e shows the Employer's Address

• TRUE

• FALSE