a group of people with common interests and concern for the common good
What is a community
100
Financial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the future
What is investment assets
100
Income for:Retirees, People with profound disability, Children who have lost a parent, A person with children who has experienced the death of a spouse
What is social security
100
a tax on property, such as land, buildings (including homes), and motor vehicles
What is property tax
100
The measure of financial wealth
What is net worth
200
tax on earned and unearned income
What is income tax
200
Can be quickly and easily converted into cash
What is monetary assets
200
Helps pay for health care for senior citizens
What is medicare
200
tax on purchased goods and services
What is sales tax
200
A financial statement that describes an individual or family’s financial condition on a specified date by showing assets, liabilities, and net worth
What is statement of financial position
300
money earned from working for pay
What is unearned income
300
Personal property that was purchased to create a lifestyle or improve your life (also known as use or lifestyle assets)
What is tangible assets
300
Medicare tax charge
What is 1.45%
300
taxes collected from the seller or retailer and as such often remain hidden in the price of a produce or service
What is excise tax
300
Everything a person owns with monetary value
What is an asset
400
income received from sources other than employment
What is earned income
400
What you could realistically sell that asset for today, not what you originally paid
What is market value
400
Social security tax charge
What is 6.2%
400
A sum of money demanded by a government to support the government itself as well as specific facilities or services
What is taxes
400
A debt or obligation owed to others
What is a liability
500
A tax on earned income that supports the Social Security and Medicare programs (also known as FICA)
What is payroll tax
500
Homes, automobiles, electronics
What are tangible assets
500
Payroll tax
What is social security and medicare
500
A person who pays a tax to national, state, county or municipal (city/town) governments