Types of Taxes

A tax based on an employee's wages. It is paid at least partially by the employer.

• Payroll Tax

• Income Tax

• Property Tax

• Sales Tax

A tax based on purchased goods and services.

• Payroll Tax

• Income Tax

• Property Tax

• Sales Tax

A tax paid on buildings or land by the owner.

• Payroll Tax

• Income Tax

• Property Tax

• Sales Tax

The amount of money a person makes before taxes and other deductions.

• Gross Income

• Net Income

The amount of money a person makes after taxes and other deductions are taken out.

• Gross Income

• Net Income

The amount of money you make to spend.

• Income amount

• Expense amount

The amount of money you spend.

• Income amount

• Expense amount

A plan for how much income will be received and how it will be spent, saved and shared.

• Budget

• Balanced Budget

This occurs when the total amount of money spent, saved and shared equals the total income.

• Budget

• Balanced Budget

A portion of the value of items.  This can be charged on items like: cars, houses, boats, or land.

• Income Tax
• Sales Tax
• Payroll Tax
• Property Tax