Budgeting/Income/Taxes Practice Quiz

A ________ is a plan for spending and saving money

Your income earned before taxes are deducted is known as ___________.

Expenses determined by wants and not needs are called ____________.

Expenses that occur every month but change in amount are __________.

Every year, your employer gives you a ________ which details your earnings for the previous year.

The amount of money that can be taxed by the IRS is known as your __________.

The 50/30/20 Rule recommends spending 50% of your income on ____________.

The 50/30/20 Rule recommends spending 30% of your income on ____________.

The 50/30/20 Rule recommends spending 20% of your income on ____________.

Federal income taxes are determined by _____________.