Personal Financial Literacy Vocabulary

Taxes paid for owning a house or land is

• Sales Tax

• Property Tax

• City Tax

• Income Tax

Taxes paid for money you earn by working is

• Property Tax

• City Tax

• Income Tax

• Waste Tax

Taxes paid on items, goods or services purchased from a business is

• Sales Tax

• Income Tax

• Property Tax

• City Tax

Tags

CCSS.6.RP.A.3B

What are taxes used for?

• The President's pay check

• Government uses it to fix roads or schools

• The money is given to the poor

• The money is given back to the people who work

What is Gross Income

• All of the money you earn before taxes are taken away

• The money you keep after taxes are taken away

What is net income?

• All of the money you earn before taxes are taken away

• The money you keep after taxes are taken away

Is the sales tax the same percent in every state?

• yes

• no

Tags

CCSS.6.RP.A.3C