Math Taxes

Math STAAR Review 10

• Income Tax - money deducted and withheld from your paycheck by the governemnt

• Payroll Tax - money deducted and withheld by the employer from your paycheck

• Sales Tax - money added to purchases for items or services

• Property Tax - tax based on the value of the property

• Gross income - amount of money earned before deductions - Giant amount

• Net income - amount of money earned after all deductions are taken out of your gross income - Not a giant amount

Match

Match the following

• Income Tax

• Sales Tax

• Property Tax

tax on money earned from a job

Tax paid on items you buy

Tax paid on property you own

• tax on money earned from a job

• Tax paid on items you buy

• Tax paid on property you own

Multiple Choice

What is an example of property tax?

• Candy

• Cars

• Paycheck

Multiple Choice

A tax on money earned from working a job

• Sales Tax

• Property Tax

• Income Tax

Multiple Choice

Gross income is:

• the total amount of money you earn

• the amount of money you receive after decuctions are subtracted

• the total amount of money you spend

• sales taxes on items you buy

Multiple Choice

Alexis worked 24 hours last week. At a rate of $12 per hour, what was Alexis' gross pay?

• $36

• $144

• $288

• $312

Multiple Choice

Net income is:

• the total amount of money you earn

• the amount of money you receive after deductions are subtracted from your gross income

• the amount of money that is taken away in the form of taxes

• the hourly rate of pay

Multiple Choice

Yvonne's gross income: ?

Yvonne's deductions: $251.18

Yvonne's net income:$451.82

• $703

• $200.64

• $954.18

• $25,812.00

Multiple Choice

Martha's net income is $500, if her gross income is $850, how much are her deductions?

• -$350

• $350

• $500

• $1350

Multiple Choice

Gross income minus deductions equals your net income.

If Amorelle made $384 in gross income and her deductions are $122, what is her net income?

• $506

• $406

• $262

• $266

Multiple Choice

Fatima has a net salary of $235 per week. If she pays $30 in income tax and $15 in payroll tax, how could Fatima determine her gross salary? Why?

• 235 - 30 - 15 = $190.

  Net salary minus all deductions equals gross salary

• 235 + 15 + $250.

  Net salary plus payroll tax deductions equals gross salary.

• 235 + 30 = $265

  Net salary plus income tax deductions equals gross salary.

• 235 + 30 + 15

  Net salary plus deductions equals gross salary.

Multiple Choice

The paystub above shows Elliot's weekly net income and payroll taxes. What is Elliot's weekly gross income?

• $529.95

• $487.74

• $317.55

• $465.95

Multiple Choice

Arianna earns money babysitting on the weekends. She earns $25 Saturday morning and $75 Saturday afternoon. She earned $100 on Sunday. A payroll tax of $26.25 was withheld each day If this is Arianna's only source of income, what was her income for the two days?

• $73.75

• $122.25

• $147.50

• $173.75

Multiple Choice

Allen's gross yearly income is $55,000. He pays $15,000 in taxes each year. Only taxes are taken out of Allen's check. What is his net yearly income?

• $70,000

• $40,000

• $50,000

• $14,000

Multiple Choice

Kian's gross monthly income is $1,500. He pays $200 in taxes each month. Only taxes are taken out of his check. What is Kian's net monthly income?

• $1,700

• $200

• $3,000

• $1,300

​A budget is balanced when income equals expenses. To balance a budget, reduce your spending on wants or increase your income.

Multiple Choice

Which of the following changes can be made to balance Dean’s budget?

• Decrease the book purchases to $15.

• Decrease the paper route income to $15.

• Increase the movie rentals to $15.

• Increase the paper route income to $22.

Multiple Choice

Spencer needs to balance his April budget.

What can he do so that his budget is balanced?

• Increase his savings this month by $10

• Increase his allowance by $5

• Decrease his piano lessons by $5

• Decrease his entertainment costs by $10

Multiple Choice

Amelia made this list of her monthly expenses.

Amelia’s net income for the month is $2,135.

How much money does she have for other expenses?

• $3,535

• $1,400

• $885

• $735

Multiple Choice

This month Mando’s expenses are greater than his income. What are two actions Mando can take in order to balance his budget?

• Increase expenses and decrease income

• Decrease expenses and decrease income

• Decrease expenses and increase income

• Increase expenses and increase income

Multiple Choice

Ms. Vonn’s monthly budget is shown in the chart. She receives two paychecks per month. Ms. Vonn’s budget is balanced every month. How much is Ms. Vonn’s monthly car payment?

• $2,400

• $300

• $500

• $2,100

Multiple Choice

Martina’s checks for last month are shown in this table. At the end of the month, Martina was $15 overdrawn at the bank. Which action would BEST help Martina avoid being overdrawn again next month?

• Do not use any electricity for one month.

• Do not wash clothes in order to save water.

• Do not pay for home insurance until next month.

• Switch to a less expensive phone plan.

Multiple Choice

Morgan used the ledger below to track her income and expenses for September.

Which is a true statement about Morgan’s income and expenses for September?

• Morgan spent $10 more than she earned.

• Morgan’s income and expenses were equal.

• Morgan earned $10 more than she spent.

• Morgan’s total income was $10.

Fill in the Blank

This is Zoe's complete financial record for June. On June 2, how much money did Zoe make?

Fill in the Blank

This is Braden's complete financial record for March. In March, how much money did Braden spend?

.

Fill in the Blank

This table shows Abigail's August budget. How much money can Abigail spend on a new video game system to keep her budget balanced?