Understanding the W2 | Baamboozle - Baamboozle | The Most Fun Classroom Games!

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You can collect full social security benefits when you turn 55.

True

False

What percent of borrowers have a car payment of $1,000 or more?

6.8&

16.8%

36.8%

76.8%

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.

False

True

You will not receive a W-2 from an employer who has paid you less than $600 per year

False

True

Medicare benefits generally start when you turn 65.

False

True

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

Your Social Security Number will not be printed on your W-2.

True

False

Bos 2 shows Federal Income tax withheld, which is used for your local government..

True

False

Copies of the W-2 are also sent to the state and federal governments.

Fale

True

Box 1 does not include any money deducted from your paychecks for benefits such as healthcare and retirement.

False

True