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Paychecks, Benefits, Taxes, and Net Income
Worksheet
Grade Level
Economics & Financial Literacy
12.50 Paychecks, Benefits, Taxes, and Net Income
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Which change would increase take-home pay now but could make the worker owe more or receive a smaller refund at tax filing, all else equal?
A
Asking the employer to withhold an extra $50 per paycheck
B
Increasing an employee-paid insurance premium
C
Adding an extra retirement deduction
D
Reducing federal income tax withholding on the W-4
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