Computation of gross and net pay should include interpreting real or mock paycheck stubs to consider

• gross pay (i.e., wages/salary)
• deductions (e.g., federal and state taxes, Federal Insurance Contributions Act (FICA)
• net pay (i.e., gross pay minus deductions).

Process/Skill Questions:

• What is FICA?
• How is gross pay computed?
• What are examples of deductions that might be taken out of one’s paycheck?
• Why are these deductions taken?
• How are the various deductions calculated?