Understanding Taxes and Income

Which type of tax is taken directly out of your paycheck?

• Payroll tax

• Income tax

• Paycheck tax

• Sales tax

Sales tax is

• A retail tax

• A house tax

• A tax taken from a paycheck

• A tax paid by an employer

Tags

CCSS.6.RP.A.3D

Money that is earned through a job.

• Interest

• Income

• Expense

Tags

CCSS.3.OA.D.9

Money you receive before taxes is called:

• Gross income

• Net income

• Pay day

• Bank loan

Which of the following is NOT a type of tax?

• Income tax

• Payroll tax

• School tax

• Property tax

Gross income is the ...

• Total money earned

• Deductions

• Money after deductions

• Net income

Tags

CCSS.3.OA.D.9

Money earned through employment and investments

• Budget

• Expense

• Income

• Debt

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 total amount an employee earns before deductions are applied, and net income is the amount an employee is paid after deductions and taxes.

Mrs. Holleman's employer deducts $347.21 each month for Social Security and Medicare taxes. What taxes are being deducted from her paycheck?

• Income Tax

• Payroll Tax

• Sales Tax

• Property Tax

• Income/Payroll Tax

• Sales Tax

• Property Tax

Tags

CCSS.6.RP.A.3D