Taxes
What does corporate income tax mean?
A percentage of profits by business to the federal and state government.
What is a good credit score to buy a home in Texas?
At least 620
What is identity theft?
fraudulently obtaining a person's sensitive information and then using that information to impersonate the victim
When should you use digital communication?
For short or informal messages
What is a credit score?
A numerical of an individual's creditworthiness based on their credit history.
What equation is used to calculate income taxes?
Gross income- deductions= taxable income x rate = taxes paid
What is the first payment on a house called?
Down payment
What is the most common form of identity theft?
Financial identity theft
What shouldn’t you do during verbal communication?
Don’t look away from the person
Don’t stutter
Don’t add unnecessary info
How can I improve my credit score?
Making on-time payments and being responsible with your credit card balances.
How do tax brackets work?
As your income goes up, the tax rate on the next layer of income is higher.
Mortgage
An agreement between you and a lender that allows you to borrow money to purchase or refinance a home.
What are two ways your identity can be stolen?
in person, online, through social media, by phone
What shouldn’t you do during non-verbal communication?
Don’t hide your hands
Don’t cross your arms
Don’t add unnecessary info
What factors affect my credit score?
Having multiple credit accounts, using the credit balance irresponsibly and missing payments.
What does the tax rate mean?
The percentage at which taxes are paid on each dollar of income.
What is homeowner’s insurance?
a form of property insurance that covers losses and damages to your residence
Who do you contact when your identity is stolen?
The Federal Trade Commission (FTC)
What does mannerism mean?
Way of speaking or behavior
Why is it important to have a credit score?
A good credit score helps you better qualify for loans, lower interest rates, and many other perks like reduced plane ticket cost.
What is the difference between a w-4 form and a w-2 form?
W-4 is filled by the employee, while w-2 is filled by the employer.
What is a home appraisal?
a process through which a real estate professional determines the fair market value of a property
What does the Identity Theft Prevention Program do?
Detect the warning signs, or red flags, of identity theft
What are some ways to increase your communication?
Watch your tone
Be clear and concise
Be mindful
How can I check my credit score?
Using websites such as Equifax, Experian, and TransUnion.