Income Tax & Gross vs Net Income

A deduction is

• gross income

• money added to your income

• net income

• money taken out of your income

Tags

CCSS.6.NS.C.7C

Gross income is:

• the total amount of money you earn

• the amount of money you receive after decuctions are subtracted

• the total amount of money you spend

• sales taxes on items you buy

Tags

CCSS.3.OA.D.9

Net income is:

• the total amount of money you earn

• the amount of money you receive after deductions are subtracted from your gross income

• the amount of money that is taken away in the form of taxes

• the hourly rate of pay

Marco has the following deductions listed on his paystub this week.

Federal Income tax: $44

Social Security tax: $23

Medicare tax: $5

Health Insurance: $24

What is the total amount of his deductions?

• $39

• $67

• $91

• $96

Tags

CCSS.3.OA.D.8

David's gross income: $127.25

David's deductions: $25.20

David's net pay: ?

• $102.05

• $102.45

• $112.05

• $152.45

Tags

CCSS.6.NS.B.3

Net Income is?

• After Tax

• Before Tax

• Sales Tax

• Property Tax

Tags

CCSS.7.RP.A.3

Yvonne's gross income: ?

Yvonne's payroll deductions: $251.18

Yvonne's net income:$451.82

HINT: Work backwards

• $703.00

• $200.64

• $954.18

• $812.00

Tags

CCSS.6.NS.B.3

Adam earns $13 for each lawn that he mows. He mows 37 lawns per month. Which statement about his monthly income is true?

• His net income is more than $481.

• His gross income is less than $481.

• His net income is exactly $481.

• His gross income is exactly $481.

Tags

CCSS.7.EE.B.3

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 a worker’s wages.

• Gross income is a tax paid by an employer based on a worker’s wages. and net income is a 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 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

What are the four most common taxes that come out of a person’s payroll check? Select the four that apply.

• Federal Income Tax

• State Income Tax

• Property Tax

• Medicare Tax

• Social Security

Tags

CCSS.6.RP.A.3C