Taxes Review

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

Tags

CCSS.7.RP.A.3

A deduction is

• gross income

• money added to your income

• net income

• money taken out of your income

Tags

CCSS.6.RP.A.3B

Which of the following is one important piece of information found on a paystub?

• Your Co-workers

• Math Done for your Job

• Pay Amount

• Time

Total amount of earnings made over a month before any deductions

• Net Monthly Income

• Gross Monthly Income

• Income Tax

• Social Security

Tags

CCSS.7.RP.A.3

Money received on a regular basis for work or through investments

• Values

• Taxes

• Income

• Fixed Cost

Tags

CCSS.RI.11-12.7

CCSS.RI.8.7

CCSS.RI.9-10.7

CCSS.RL.11-12.7

CCSS.RL.9-10.7

Wages, salary and tips

• unearned income

• earned income

• disposable income

Income that has not been worked for such as interest, dividends, or gambling winnings

• disposable income

• unearned income

• earned income

• workers compensation

Which of the following people could be claimed as a dependent?

• Your animals

• Your children

• your parents

• Your boss

What government department collects personal income tax?

• Federal Government

• IRS

• Social Security Division

• Congress

By what date must employers provide, or place in the mail, a wage earner's W-2 statement?

• January 1

• January 31

• April 1

• April 15