Financial Literacy

Jonathan's new clothes cost a total of $572.50 before tax. What type of tax does Jonathan have to pay for his new clothes?

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

A plan for spending

• income
• expenses
• sales tax
• budget

Savannah earned $1300.00 at her job. Her paycheck was made out in the amount of $973.22. What kind of tax was taken out of her earnings?

• sales
• payroll
• income
• property

Alex bought a new car priced at $13,840 but he paid $14,597. What kind of tax did he pay?

• property
• payroll
• income
• sales

Everybody who earns money has to pay taxes to the government. What kind of tax is this?

• payroll
• sales
• income
• government

Dan earns $436.54 a week at his job. $102.38 is taken out and he takes home $334.16. What does $436.54 represent?

• net income
• sales tax
• gross income
• payroll tax

Dan earns $436.54 a week at his job. $102.38 is taken out and he takes home $334.16. What does $334.16 represent?

• net income
• sales tax
• gross income
• payroll tax

Dan earns $436.54 a week at his job. $102.38 is taken out and he takes home $334.16. What does $102.38 represent?

• net income
• sales tax
• gross income
• payroll tax

The total amount of income from wages before any payroll deductions.

• property tax

• gross income

What do we call the amount left over from your paycheck after taxes and deductions?

• balance
• gross balance
• transaction
• net pay