Investment sources of income
The interest paid by this investment is exempt from income taxation at the state and local level, but is fully taxable on your federal income tax return.
What is a US Treasury Bill or Bond?
a schedule allowing you to work different hours than your fellow employees
What is flextime?
an annual tax charged by some states that must be paid on a boat you own
What is personal property tax?
When my revenues > expenses, I will have this and I won't have to revise my budget.
What is a budget surplus
_______________ insures your bank deposits up to $250,000 per depositor, per insured bank
What is the FDIC?
This type of investment represents ownership in a public company
What is stock?
not having to pay income tax withholding
What is exempt status?
A Form prepared by your employer, this is received in January, and is needed to file your income tax return.
What is Form W2?
If I'm working on a personal budget, an electric bill is classified as this type of expense.
What is a variable expense?
This bank operates to make a profit. (Hint commercial bank or credit unions)
What is a commercial bank?
An investment type that involves property
What is real estate?
the amount that you are actually paid in your pay check and can spend
What is net pay?
This form reflects the total amount your employer withheld from your gross pay in taxes and sent to the government.
What is Form W2?
A mani/ pedi is an example of this type of expense
What is a discretionary expense?
A check you write on your account and cashed by the payee will have what effect on your account? (Hint: addition or withdrawal?)
What is withdrawal from your account?
Committing money to an enterprise in order to earn a financial return
What is investing?
more than 40 hours worked in one week
What is overtime?
a tax paid by someone on money he or she has inherited
What is estate tax?
A mortgage payment is an example of this type of expense?
What is a fixed expense?
This bank type shares profits with depositors
What is a credit union?
The return received if your stock performs well.
What is a dividend?
You claim this on your Form W4 and it affects the amount of your paycheck
What is allowances?
How many Form 1040s were available prior to January 2019
3
Companies that make small short-term, high-interest loans to hold a person over "until payday"
What is payday lenders (see page 123)?
When a bank receives a check written on an account at another bank, the funds for the check are transferred between banks through this.
What is the Automated Clearing House?