PCC Finance Unit #1
Flashcard
•
Life Skills
•
8th Grade
•
Practice Problem
•
Hard
DEBRA STELLATO
FREE Resource
Student preview
13 questions
Show all answers
1.
FLASHCARD QUESTION
Front
gross income
Back
wages or salary BEFORE any deductions are taken out
2.
FLASHCARD QUESTION
Front
net income
Back
take home pay - money you actually receive AFTER deductions are taken out
3.
FLASHCARD QUESTION
Front
annual income
Back
the amount of money you make in a year
4.
FLASHCARD QUESTION
Front
income tax
Back
a portion of your earnings that go to the government
5.
FLASHCARD QUESTION
Front
sales tax
Back
the tax you pay on items you purchase
6.
FLASHCARD QUESTION
Front
property tax
Back
the tax you pay that is based on the value of your home NOTE: Other property, such as vehicles and motor homes are also taxed
7.
FLASHCARD QUESTION
Front
This tax goes to the federal government to provide HEALTH CARE coverage to most Americans age 65 and older
Back
Medicare Tax
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