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Understanding the W2
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If you work for an employer, you and your employer each pay a 6.2% Social Security tax on up to $168,600 of your earnings.
 
True
 
False
You can collect full social security benefits when you turn 55.
 
False
 
True
Medicare benefits generally start when you turn 65.
 
True
 
False
Bos 2 shows Federal Income tax withheld, which is used for your local government..
 
False
 
True
Box 1 does not include any money deducted from your paychecks for benefits such as healthcare and retirement.
 
True
 
False
Your Social Security Number will not be printed on your W-2.
 
False
 
True
Copies of the W-2 are also sent to the state and federal governments.
 
True
 
Fale
You will not receive a W-2 from an employer who has paid you less than $600 per year
 
True
 
False
What is a W2?
A form generated by an employer to provide information about wages, taxes witheld, and other information for the purpose of filing taxes
What percent of borrowers have a car payment of $1,000 or more?
 
16.8%
 
6.8&
 
36.8%
 
76.8%


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