Financial Literacy

A tax paid by the consumer when they purchase something (such as retail)

• Income Tax

• Payroll Tax

• Property Tax

• Sales Tax

Tags

CCSS.6.RP.A.3B

A tax on real estate, land and other personal property by local government. This is usually paid by individuals/businesses that own land/property. This tax is mainly used for road repairs, building of schools etc...

• Income Tax

• Payroll Tax

• Property Tax

• Sales Tax

A tax paid by the employee and is a key source of funds that the government uses to fund activities and serve the public.

• Income Tax

• Payroll Tax

• Property Tax

• Sales Tax

TOTAL taxes taken out of an employee’s paycheck. These taxes are paid by the employer to fund such programs as Social Security, healthcare and unemployment.

• Income Tax

• Payroll Tax

• Property Tax

• Sales Tax

Tags

CCSS.7.EE.B.3

Money added to your account

• Credit

• Debit

• Withdrawal

• Deposit

To take money out of an account. (Your account balance decreases)

• Credit

• Debit

• Withdrawal

• Deposit

Money put IN to an account; balance increases

• Credit

• Debit

• Withdrawal

• Deposit

Tags

CCSS.3.OA.D.9

Money taken out of your paycheck (Taxes are deducted from your salary)

• Budget

• Wage

• Deduction

• Expense

Payment for goods and services

• Budget

• Wage

• Deduction

• Expense

Tags

CCSS.6.NS.B.3

The amount of money you receive after taxes are subtracted from your gross income.

• Gross Income

• Wage

• Deduction

• Net Income