Taxes

If someone who earns more falls into a higher tax bracket than someone who earns less, this is an example of a 

• progressive tax system
• proportional tax system
• regressive tax system

This pays for Social Security and Medicare

• Sales Taxes
• Income Taxes
• FICA Taxes
• Property Taxes

This is the major revenue source for the Federal Government

• Sales Taxes
• Income Taxes
• FICA Taxes
• Property Taxes

This taxes help pay for local police and fire.

• Sales Taxes
• Income Taxes
• FICA Taxes
• Property Taxes

The total amount of earnings before any deductions are taken out

• Gross Pay
• Net Pay
• After-tax Income
• Yucky Pay

Tags

CCSS.7.RP.A.3

The amount of salary received after taxes and deductions

• Gross Pay
• Net Pay
• Total Earnings
• Bill 

With-holdings from paychecks that go to provide income support for people who are unemployed, disabled, or over age 65

• 401k
• Social Security
• Medicare
• Medicaid

Which type of tax comes directly out of your paycheck?

• Property Tax
• Sales Tax
• Income Tax
• Ad Valorem Tax

Taxes should be filed by _______ in order to avoid any penalties. 

• March 1
• February 15
• December 31
• April 15

What you get if you had more money withheld then what you owed? 

• Penality
• Refund
• Deduction 
• Exemption