5th Financial Literacy Vocab

city or state tax added to the price of an item

• sales tax

• property tax

• payroll tax

• income tax

a yearly tax on land, homes, or other property

• sales tax

• income tax

• property tax

• payroll tax

a yearly federal tax on a person's income

• sales tax

• property tax

• payroll tax

• income tax

or organized plan for spending and saving money

• expenses

• budget

• profit

• withdrawal

money received in a particular time period in exchange for work

• income

• losses

• balanced

• asset

the total amount of income from wages before any taxes, or deductions, are removed

• net income

• profit

• gross income

• deposit

the amount of money a person takes home after taxes and other deductions

• property

• net income

• profit

• gross income

money withheld from an employee's pay check to pay for federal program

• income tax

• sales tax

• property tax

• payroll tax

to remove money from an account

• loss

• deposit

• withdraw

• profit

to add funds to an account

• deposit

• withdraw

• property

• bank