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Payroll Taxes and Credit
Quiz
•
Life Skills, Business
•
8th - 12th Grade
•
Hard
Teri Lester
Used 81+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The total earnings on your paycheck
Three taxes that everyone must pay
How much a person is worth in total
The amount of your paycheck after taxes are taken out
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is gross earnings?
The total amount of wages on your paycheck
Three taxes that everyone must pay
How much a person is worth in total
The amount of your paycheck after taxes are taken out
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the three taxes that everyone must pay from their paycheck?
Federal income tax, state income tax and county tax
Federal income tax, sales tax and Medicaid tax
Federal income tax, Social Security tax, Medicare tax
State income tax, Social Security tax and Sales tax
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Medicare tax for?
It funds health insurance for retired Americans
It funds Medicaid
It funds health insurance for all Americans
It funds health insurance for those who can't afford it under the Affordable Healthcare Act
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is another name for social security tax?
Income tax
FICA
Medicare tax
State tax
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How long should an MEDIUM-TERM financial goal take to achieve?
1 day - 3 months
3 - 6 months
6 - 18 months
3 - 12 months
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is federal tax used for?
It is used to fund federal infrastructure and programs
It provides income to Americans in retirement
It is used to fund state infrastructure and programs
It funds health insurance to Americans in retirement
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