Financial Literacy

Mark's dad pays a tax to the federal government each year based on the money he earns off his lawn mowing business. What type of tax does his dad pay?

• Payroll

• Income

• Sales

• Property

Alex purchased a new pair of jeans for $25. When Alex pays for his jeans, his total is almost $30 because of taxes. Which type of tax does Alex pay?

• Payroll

• Income

• Sales

• Property

Your parents pay a tax each year of $3,500 that is based off the value of their house. Which tax is this?

• Payroll

• Income

• Sales

• Property

Hannah's first paycheck from Schlitterbahn shows that $450 was taken out in taxes. Which type of tax was taken out of Hannah's paycheck?

• Payroll

• Income

• Sales

• Property

Mrs. Housley owns a ranch that has 65 acres of land. Each year she pays $6,780 in taxes on the land. Which type of tax is this?

• Payroll

• Income

• Sales

• Property

Trevor won $10,000 on the Price is Right. He has to pay $500 of his winnings in taxes. Which type of tax will he pay?

• Payroll

• Income

• Sales

• Property

Preston wants to purchase a video game for $50. He hands the cashier a $50 bill plus a $10 bill to cover the tax. What tax is this?

• Payroll

• Income

• Sales

• Property

Last year, Bailey's house value went up. Because of this, her taxes on her house went up as well. Which type of tax is this?

• Payroll

• Income

• Sales

• Property

A portion of Elena's paycheck is taken out in taxes. These taxes pay for Social Security and Medicare. Which tax is this?

• Payroll

• Income

• Sales

• Property

Piper pays taxes each year to the federal government based on her yearly income. These taxes help pay for things like roads, bridges, schools, and the military. Which tax is this?

• Payroll

• Income

• Sales

• Property