1.13.1.L1 Note taking guide

Understanding Your Paycheck

35

Total Points Earned Total Points Possible
Percentage

Paper Paycheck

Definition

Methods for paying employees

Direct Deposit

Definition

Name ________________________ Date ________________________ Class ________________________

Payroll Card

Definition

Characteristics Characteristics Examples of fees charged by payroll companies

Protection Benefits to employers

Benefit to employees

© Family Economics & Financial Education - Revised May 2010 - Paychecks and Taxes Unit - Understanding Your Paycheck - Page 9 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 1.13.1.L1 Note taking guide

Taxes

Taxes: What public services and goods in your community are funded with tax dollars?

Internal Revenue Service:

Who writes tax laws?

Employment Forms

Form W-4:

•

•

Allowance:

Dependent:
Why may an employee claim a personal allowance on their Form W-4 only if no one else claims them as a dependent?

Form I-9:

• Examples of documentation:

Payment Forms

Payment option choice is:

For these two reasons:

© Family Economics & Financial Education - Revised May 2010 - Paychecks and Taxes Unit - Understanding Your Paycheck - Page 10 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 1.13.1.L1 Note taking guide

Reading A Paycheck Stub

Paycheck stub: ________________________________________________________________

Personal Information: