Understanding Paychecks Study Guide

							                           EARTHLINGS GUIDE TO
                  UNDERSTANDING PAYCHECKS
                                                                                  Name
                                                                                   Date
                                                                                   Class
Directions: Use the following note taking guide to record information during the PowerPoint
presentation.
                                     Starting a new job:
Taxes:
Form W-4:
I-9:
Form W-2:
                               Methods for paying employees:
                Paycheck             Direct Deposit             Payroll Card
Description:



Pro:



Con:




                                  Reading a Paycheck Stub


Personal Information:
Year-to-Date:
Gross Pay:
Payroll Withholding:
Withholding Tax:
Net Pay:
FICA:
Social Security:
Medicare:
What are some examples of pre-tax benefits?
   1.
   2.
   3.
   4.
   5.


        Do pre-tax benefits raise or lower taxable income?
        What is a tax deferred benefit?
        What is an example of a tax deferred benefit?
        What is a tax exempt benefit?
        What is an example of a tax exempt benefit?