Domain 1 Review: Pay Stub & Filing Status

Match the following filing status.

• Married Filing Separately

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

• Qualified widow(er)

• Unmarried people who don't qualify for

  any other filing status.

• Head of Household

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

• 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.

• Single Status

• Individuals who have lost a spouse

  and have dependents at home to whom they

  provide more than 50% of their support.

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

Groups:

(a) Voluntary Deductions

,

(b) Involuntary Deductions

• union dues

• uniforms

• bankruptcy court order

• charitable contributions

• tax liens or unpaid taxes

• Flexible Spending Accounts

• court-ordered garnishment for child support

• retirement plans

• 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