Domain 1 Review: Pay Stub & Filing Status

Match the following filing status.

• Qualified widow(er)

• Allows a married couple to report their combined income together on the same form, holding both individuals responsible for the taxes.

• Married filing jointly

• Individuals who have lost a spouse

  and have dependents at home to whom they

  provide more than 50% of their support.

• Single Status

• A married couple, who report their own income and deductions on different tax returns.

• Married Filing Separately

• An unmarried person with at least one

  dependent that have paid more than half the cost to provide for at least one other person or for more than

  half the cost of caring for a home during a year.

• Head of Household

• Unmarried people who don't qualify for

  any other filing status.

Which of the following examples are voluntary or involuntary deductions that you may see on your paycheck?

Groups:

(a) Voluntary Deductions

,

(b) Involuntary Deductions

• court-ordered garnishment for child support

• unpaid student loan

• retirement plans

• tax liens or unpaid taxes

• bankruptcy court order

• charitable contributions

• uniforms

• union dues

• Flexible Spending Accounts

An employee’s earnings after withholdings and taxes are deducted is called ​ (a)   pay.

• gross
• involuntary
• voluntary
• net

Tax that funds Social Security and Medicare is called ​ (a)   deductions.

• itemized
• voluntary
• involuntary

FICA stands for (a)   .

A tax that specifically funds cities, towns, or jurisdictions is called _________.

• FICA

• capital gains

• local tax

• federal tax

An employee’s pay before taxes and deductions are withheld is called ______.

• FICA

• Net pay

• Local tax

• Gross pay