Unit 3 Personal Financial Literacy

a yearly federal tax on the earnings of a person or business

• Payroll Tax

• Income Tax

• Property Tax

• Sales Tax

– money an employer withholds from a worker’s paycheck to fund federal programs such as Social Security and Medicare

• Property Tax

• Income Tax

• Payroll Tax

• Sales Tax

a city or state tax added to the price of an item; collected by the seller

• Payroll Tax

• Income Tax

• Property Tax

• Sales Tax

Tags

CCSS.6.RP.A.3D

a yearly tax on homes, land, and other property that helps pay for local needs such as schools, firefighters, etc.

• Payroll Tax

• Income Tax

• Property Tax

• Sales Tax

the total amount of money a worker earns before taxes and other deductions are withheld

• Gross Income

• Net Income

Tags

CCSS.6.RP.A.3B

the total amount of money a worker takes home after taxes and other deductions are withheld

• Gross Income

• Net Income

Tags

CCSS.7.RP.A.3

a slip of paper that is filled out to allow a bank to take money from a checking account to pay for a purchase

• Check

• Credit Card

• Debit Card

• Electronic Payment

a payment, made over the Internet, that allows money to be taken directly from a consumer’s bank account

• Check

• Credit Card

• Debit Card

• Electronic Payment

card issued by a bank that a consumer uses to pay for purchases with money from a checking account

• Check

• Credit Card

• Debit Card

• Electronic Payment

card, issued by a bank, store, or other business, that is used to borrow money or buy goods and services on credit; consumers make regular payments to repay the bank, store, or business

• Check

• Credit Card

• Debit Card

• Electronic Payment