EVERFI LESSON 2: TAXES, INCOME AND
EMPLOYMENT QUESTIONS WITH CORRECT
ANSWERS
W-4 CORRECT ANSWER A federal tax form filled out by an employee to indicate the amount that should be withheld from his/her paycheck for taxes.gig economy CORRECT ANSWER a flexible market that allows you to work short-term independent jobs net pay CORRECT ANSWER take home pay; the amount of a paycheck after all taxes and deductions have been taken out of your paycheck taxes CORRECT ANSWER money paid to the Federal, State, and Local governments for schools, parks, roads, emergency services, etc.withholding (tax withheld) CORRECT ANSWER tax payments taken out of an employee's pay before he or she receives it filing status CORRECT ANSWER describes your tax-filing group which is based on your marital status (single, married filing separately, married filing jointly) personal allowances CORRECT ANSWER Items or exemptions you can claim on your W-4 form that reduce the amount of tax taken out of your paycheck gross pay CORRECT ANSWER the total amount of an employee's earnings before deductions are taken out FICA (Federal Insurance Contributions Act) CORRECT ANSWER money that goes to Social Security and Medicare programs
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