Taxes Definition
The money withheld from a person's pay check to pay for federal programs.
Payroll Tax
The total amount of income from wages before nay payroll deductions.
Gross income
Money paid to the government
Taxes
Payment for goods and services, what you spend
Expenses
A yearly tax on land, homes, or other property.
The amount of money a person takes home after taxes and other deductions.
Net income
Tax on money from a job, paid once a year on April 15 to the IRS
Income Taxes
A card that can be used to borrow money from financial institutions,
Credit Card
City or state tax added to the price of an item.
Sales tax
money received in a particular time period in exchange for work
Income
Tax on something you buy
Sales Tax
A bankcard linked to an individual’s checking account
Debit Card
Yearly federal tax on a person's income
Income Tax
Alyssa has her first job at the local bakery. After working for one week, she received her first paycheck after her deductions were taken out. The total amount of money she is able to put in the bank is $75.62. What type of income does this amount describe?
Net income
Tax on the value of a house, building or land
Property Tax
A paper slip filled out by a customer to purchase something . The money comes out of your bank account.
Check
Jonathan's new clothes cost a total of $572.50 before tax. What type of tax does Jonathan have to pay for his new clothes?
Sales Tax
Jenny just received her first paycheck. She noticed that after they deducted $30 for payroll taxes and $60 for medical insurance. Her net pay was $320. How much did Jenny make before the deductions were removed from her gross pay?
$410
Tax the boss takes out of your check for social security and Medicare
Paper currency or coins... used to pay for goods and services.
Cash