Income Assessment-Unit 1 JA Park

Your abilities include:

• Things you do well

• Your mental competence

• Skills you need to do something

• All the above

Career planning is done..

• After high school

• In college

• Throughout a lifetime

• Once in a lifetime

Who pays taxes?

• Most people who have a job

• Most people who purchase items

• Most people who own property

• All the above

What are the 3 main types of taxes?

• Income, sales, & property

• Unemployment, sales, & property

• Federal Income, Unemployment & State

• Sales, property, Umemployment

What is Social Security?

• A private insurance system just for the elderly

• A free insurance system

• The amount of money someone has

• Government program that pays benefits to people who are eligible

The purpose of taxes is to:

• Improve Roads

• Support government

• Pay Retirement Benefits

• All the above

Who pays into Social Security?

• Employees

• All the above

• Self-Employed

• Employers

Federal, Social Security, & Medicare are all types of _______ taxes.

• Payroll

• Social Security

• Unemployment

• Employer

The total amount of earnings made over a one-year period after deductions have been taken is known as:

• Gross Annual Income

• Gross Monthly Income

• Net Annual Income

• Net monthly income

The total amount of earnings made over a month, before any deductions is known as:

• Gross annual income

• Gross monthly income

• Net annual income

• Net monthly income