Income and Taxes

Which of the following is deducted from everyone's paycheck in the United States whether they like it or not?

• Sales Taxes
• Food Costs
• Utilities
• Federal Taxes

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

A definition of a financial term is shown below.
_{A tax on retail products based on a set percentage of retail cost.}
Which term best fits this definition?

• Income Tax
• Payroll Tax
• Property Tax
• Sales Tax

Ms. Hilbun pays a tax every year because she owns a house. Which term best describes this tax?

• Income Tax
• Payroll Tax
• Sales Tax
• Property Tax

Tags

CCSS.RI.4.3

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

Which of these statements about gross income and net income is true?

• Gross income is a tax on all income that a worker earns, and net income is a tax paid by an employer based on worker's wages.
• Gross income is a tax paid by an employer based on a worker's wages, and net income in as tax on all income that a person earns.
• Gross income is the amount an employee is paid after deductions and taxes, and net income is the total amount an employee earns before deductions are applied.
• Gross income is the total amount an employee earns before deductions are applied, and net income is the amount an employee is paid after deductions and taxes.

Tags

CCSS.6.RP.A.3B

A portion of the value of items.  This can be charged on items like: cars, houses, boats, or land.

• Income Tax
• Sales Tax
• Payroll Tax
• Property Tax

Tags

CCSS.7.RP.A.3

The total tax an employer withholds to pay to the government.

• Property Tax
• Sales Tax
• Income Tax
• Payroll Tax

Tags

CCSS.7.RP.A.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.6.RP.A.3B

Leon earns $15 per hour. He worked 40 hours last week and earned $600. He received a paycheck of $475. What type of tax did he pay?

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

Tags

CCSS.6.RP.A.3B

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

• Net income
• Gross income
• Payroll income
• None of the above

Tags

CCSS.7.RP.A.3

What statement defines gross income?

• Gross income is the amount of income after taxes are paid.
• Gross income is the amount of taxes paid.
• Gross income is the amount of income before taxes are paid
• Gross income is the amount of income of buying goods and services

Tags

CCSS.7.RP.A.3