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Financial Literacy in Action
Tutorial 2: Taxes and Your Paycheck

Access Sample Pay Stub and Tax Tutorial (Complete the tutorial. Be certain to click on all the underlined terms)
Answer the following questions:

  • Describe three important pieces of information about taxes that you get from this pay stub.
  • Compare and contrast the following taxes: social security, Medicare, and income taxes, explaining the purpose of each tax, how much each taxpayer pays, and the method by which the tax is collected.
  • What did you learn about filing a W-4 form from this exercise?
  • What two pieces of advice would you give to someone who is completing a W-4 form for the first time?
  • Why is important to complete this form correctly?
Taxes -Tutorial 2: Taxes and Your Paycheck
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