Financial Literacy

Tax an employer withholds every paycheck

• Payroll Tax

• Money Tax

• Sales Tax

• Property Tax

Money added to the cost of items you buy

• payroll tax

• income tax

• sales tax

• property tax

Tax charge on land and houses

• payroll tax

• income tax

• sales tax

• property tax

A % of money collected by the federal government based on your YEARLY earning

• Money Tax

• Income Tax

• Sales Tax

• Property Tax

Money you spend

• balance

• gross income

• net income

• expense

To subtract or take away

• expense

• gross income

• deduct

• product

To make equal

• deduct

• balance

• expense

• payroll

money you earn after taxes are deducted

• payroll tax

• net income

• expense

• balance

Reduce:

• to make larger; spend more

• to make smaller; spend less

• to spend the same amount

• to spend zero dollars

What is an example of something a person might WANT but not need?

• Electricity

• Food

• Rent

• Television