JA Income

Texas has state income tax.

• True

• False

$10 is 10% of $100

• True

• False

Gross income is also known as take-home pay.

• True

• False

Taxes are required payments to a government.

• True

• False

Texas has sales tax.

• True

• False

If my Gross annual income is $12,000 my gross monthly income would be________

• $120

• $1200

• $1000

• $2000

Net Income is also known as take-home pay.

• True

• False

Gross Monthly Income (GMI) is your monthly income before taxes and deductions.

• True

• False

25% of $3,000 is ______

• $500

• $900

• $750

• $1500

PYF stands for_______

• Pay Your Friend First

• Pay Your Bills First

• Pay Yourself First

• Pay Your Uncle first