5.10 A Gross and Net Income Vocabulary Match

Match the following

• Money that you receive.

• Budget

• A plan for a set amount of money.

• Balanced

• What you spend or pay.

• Income

• Equal Income and Equal Expenses

• Expenses

• To make less

• Reduce

Tags

CCSS.L.1.5A

CCSS.L.1.5B

CCSS.L.K.5A

Match the following

• To make more

• Income

• Money that you earn or receive.

• Net Income

• Paycheck

  before deductions/ taxes.

• increased

• Paycheck

  after deductions / taxes.

• reduced

• To make less

• Gross Income

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

Match the following

• To make more

• Pay check

• Paycheck

  after deductions / taxes.

• increased

• Money you ern from working.

• Gross Income

• A tax deducted from your paycheck.

• Payroll Tax

• Money before

  deducations / taxes.

• Net Income

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

Match the following

• A tax paid for a good or service.

• Adjust

• A person that works for someone.

• Payroll Tax

• Balance

• Sales Tax

• A tax taken our of your paycheck.

• Employee

• A Tax paid for land, a car, building

• Property Tax

Tags

CCSS.L.4.6

CCSS.L.6.6

CCSS.RI.5.4

CCSS.W.4.2D

CCSS.W.5.2D

Match the following

• A person that hires people to work.

• Employer

• Money before deductions / taxes.

• Net income

• Money after deductions/ taxes.

• Gross income

• A person that works for someone.

• wages

• The money you earn.

• Employee

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

What is Gross Pay?

• A) Pay you receive after taxes and other deductions are taken out.

• B) Total pay before taxes and other deductions are taken out.

• C) A flat tax on your paycheck including Social Security & Medicare.

• D) A progressive tax on income charged by the federal government and most states.

Tags

CCSS.7.RP.A.3

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