Financial Literacy Vocabulary

Grace wants to purchase 3 comic books for $5 each and a set of Pokemon cards for $10. She gives the clerk at the store $25. The clerk says Grace needs money for the tax. Which tax does Grace need to pay?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax

Tags

CCSS.6.RP.A.3B

Shaun’s sister Mariah, works at Taco Bell. Mariah earns $9 per hour and works 5 days a week. Her paycheck this week was $266 for 40 hours of work. Mariah’s employer withheld some of her paycheck for federal programs such as Social Security and Medicare. Which tax was withheld from Mariah’s paycheck?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax

Michael’s parents pay a tax to the federal government based on the amount of money they earn each year. The tax money helps pay for federal programs such as the military, national parks, and the FBI. Which tax are Michael’s parents paying?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax

Tags

CCSS.L.6.6

CCSS.RI.5.4

CCSS.W.4.2D

CCSS.W.5.2D

CCSS.W.6.2D

Isabella and Sophia’s family recently moved into a new house. Their new house has a higher value than their old house. As a result, which tax will increase for his family this year?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax

Amari earns $100 dollars for stacking boxes. But when he looked at his paycheck, he was only paid. $73. What tax did he pay?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax

Tags

CCSS.7.EE.B.3

Joey owns a vacation home. Every year, he has to pay tax on the house. What tax is he paying?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax

Ellie ordered an $8 value meal at a burger place. She had to pay $9.15 for her meal. What tax did she pay?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax

Tags

CCSS.6.RP.A.3D

Every April, taxes are due to the US government. What type of tax is this?

• Payroll Tax

• Income Tax

• Sales Tax

• Property Tax