Taxes
Gross vs. Net Income
Budget
Mystery
Vocab
100
This is the amount of tax that you would pay if you bought a $20 shirt and the tax rate was 7% or 0.07.
What is $1.40?
100
This is the net income for the following: Gross Income - $540 Deductions - $76
What is $464?
100
Assume you had an income of $50 and you had spent $42. This is the amount you could save so that your budget is balanced.
What is $8.00?
100
Finding a tip or a discount is the same as find taxes. This is the amount you should tip if you spend $54 and the tip rate is 15% or 0.15 times the cost of the meal.
What is $8.10?
100
This is what you call the total amount of money you earn before any deductions are taken from your paycheck.
What is GROSS INCOME?
200
This is the amount of tax you would pay if your car was worth $7500 and the tax rate was 6% or 0.06.
What is $450?
200
What is the gross income for the following: Net Income = $375 Deductions = $62
What is $437?
200
You earned an income of $25 mowing lawns. You received an allowance of $10. You spent $8.00 is fuel for your lawn mower and another $14.00 getting an oil change. This is the amount of money that you could spend at the movies and still maintain a balanced budget.
What is $13.00?
200
Find a tip or a discount is the same as finding tax. This is the amount of discount you would receive if a tv that costs $1500 is on discount for 25% off.
What is $375?
200
This is what you call the action of putting money into the bank.
What is DEPOSIT?
300
This is the amount of tax you would lose from your paycheck if you made $576 and the tax rate was 5% or 0.05.
What is $28.80?
300
This is the amount of deductions if the gross income is $568 and the net income is $426.
What is $142?
300
Income - $700 Rent - $400 Utility Bills - $65 Car Payment - $110 Groceries - $75 Entertainment - $60 This is the amount that you are over on having a balanced budget?
What is $10?
300
This is the TOTAL you would end up paying for a video game that costs $39, but is on sale for 20% off. (NO TAX)
What is $31.20
300
This is what you call a budget when the money coming in is equal to the money going out.
What is BALANCED?
400
This is the amount of tax you would pay if you purchased the following items from Home Depot and the tax rate was 8% or 0.08. Shovel - $15.99 Duck Tape - $3.01 Tarp - $11.50
What is $2.44?
400
This is the net income if you have a gross income of $350 and you have to pay 6% or 0.06 in taxes.
What is $329?
400
Mr. Sanchez made a list of his recent deposits and debits. They are shown below. Paycheck --------$75.00 Water Bill ------- $23.43 Refund --------- $14.52 Snack Shack ---- $ 7.47 Brookshires ----- $47.92 Fuel ------ ? His budget is balanced, but he forgot to write down the amount he spent on fuel for his car. This is the amount missing from his list.
What is $10.70?
400
This is what your TOTAL cost would be for a meal that ran $11.80 and a tip of 15%. (NO TAX)
What is $13.57
400
This is the term used to describe a special card that allows you to buy now and pay later.
What is a CREDIT CARD?
500
This is the TOTAL amount you would pay (including tax) if you purchased a shirt for $17.00, a pair of shorts for $21.00, and a pair of sandals for $8.00. The tax rate is 9% or 0.09.
What is $50.14
500
This is the amount of deductions you pay if your gross income is $500 with a 7% tax rate and you pay $50 for insurance, $12 for medicare, and $33 to social security.
What is $130?
500
This is the amount it would take to balance the budget shown below. Income $1200 Mortgage $600 Electric Bill $90 Groceries $200 Library Fines $5 Interest Earned $45 Car Loan $350
What is $0?
500
This is the TOTAL amount you would pay (tax AND tip included) if your meal costs $25, you tip 12% of the meal cost, and you pay 6% in taxes on the meal cost.
What is $29.50
500
This is what you call extra money that is added to the cost of retail products or services.
What is SALES TAX?
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