Financial Literacy

A tax based on purchased goods and services.

• Payroll Tax

• Income Tax

• Property Tax

• Sales Tax

Tags

CCSS.7.EE.B.3

A tax based on an employee's wages. It is paid by the employee.

• A 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

Tags

CCSS.7.RP.A.3

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

Tags

CCSS.7.EE.B.3

Alex purchases 2 comic books for $5 each and a set of trading cards for $10. He gives the clerk $20, but he needs more money to pay for the tax. Which tax does Alex need to pay?

• Property tax
• Income tax
• Sales tax
• Payroll tax

Tags

CCSS.L.6.6

CCSS.RI.4.4

CCSS.RI.5.4

CCSS.W.5.2D

CCSS.W.6.2D

Kathy received a paycheck for $685 AFTER taxes and deductions. What type of income did she receive?

• Net income

• Gross income

• Money income

• None of the above

What statement defines gross income?

• Gross income is the amount of income after taxes are paid.

• Gross income is what you buy

• Gross income is the amount of income BEFORE taxes are paid

• Gross income is money that is gross

Mrs. Allen paid $3,678 every year as a tax on her house. This is considered a -

• sales tax

• income tax

• property tax

• home tax

Tags

CCSS.L.4.6

CCSS.RI.4.4

CCSS.RI.5.4

CCSS.W.4.2D

CCSS.W.5.2D