Financial Literacy

Money earned or received is called

• Expenses

• Income

• Deductions

• Check

The total amount of personal income before taxes and deductions is called

• Net Income

• Gross Income

Tax the boss takes out of your check for social security and medicare is called

• Property Tax

• Income Tax

• Sales Tax

• Payroll tax

Tax on the value of a house, building or land is called

• Sales Tax

• Property tax

• Income Tax

Money paid to the government is called

• Budget

• Fees

• Taxes

• Food stamps

Tax on something you buy

• Sales Tax
• Property tax
• income tax
• payroll tax

Tags

CCSS.7.EE.B.3

Tax on money from a job, paid once a year on April 15 to the IRS is called

• Payroll tax

• Coupons

• Sales Tax

• Income Tax

The income that remains after taxes and other deductions is called

• Net Income

• Gross income

A written document telling the financial institution to pay someone is called

• Cash

• Card

• Check

• Debit

A card that can be used to borrow money from financial institutions is called

• debit card

• credit card

• check card

• cash card