Domain 1 Review: Pay Stub & Filing Status

Match the following filing status.

• Head of Household

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

• Married Filing Separately

• Individuals who have lost a spouse

  and have dependents at home to whom they

  provide more than 50% of their support.

• Married filing jointly

• 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.

• Qualified widow(er)

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

• Single Status

• 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

• tax liens or unpaid taxes

• union dues

• court-ordered garnishment for child support

• Flexible Spending Accounts

• charitable contributions

• retirement plans

• uniforms

• bankruptcy court order

• unpaid student loan

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 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