Tax Basics
Income Tax
Sales Tax
Paystub
Trivia
100
Tax is money paid to the state and federal government by the ________.
What is people?
100
True or false:
You must figure out how much owe in income tax and pay the government each week.
False: This type of tax is automatically deducted from your work pay.
100
Sales tax is payed when you ____ something.
Buy
100
What is Bob Johnson's pay rate?
$18/hour
100
Which country is the largest in the world?
Russia
200
What is tax money used for? Name one thing we discussed in class.
Social Security
Healthcare
Military
Infrastructure
and more!
200
Finish this sentence:
People who earn a little money pay a _____ percent than people who earn a lot of money.
Lower
200
Sales tax in Massachusetts is ______%
6.25%
200
What is Bob Johnson's gross pay?
$774
200
What is the only food that can never go bad?
Honey
300
Name on type of tax
(excluding state/federal, and FICA - that is part of another type of tax)
300
Finish the sentence:
The paystub tells you how much money was _____ and for what reason.
deducted (-)
300
Sales tax is collected by the _____ government.
State or federal?
State
300
What is Bob Johnson's net pay?
$560.71
300
A polar bear's skin is this color.
What is black?
400
What would happen if we took away income tax?
We would not be able to fund public services
400
What percent do you pay if you earn $60,000 a year?
22%
400
True or false: Medication is exempt from sales tax.
True
400
What is Bob Johnson's largest deduction?
401k (his retirement account)
400
Finish Benjamin Franklin’s famous quote:
"Nothing can be said to be certain, except death and _______."
What are taxes?
500
Has Andrew filed his taxes yet? They are due April 15th.
NO (ughhhhhhhh)
500
What percent do you pay if you earn $48,476 a year?
22%
500
True or false:
A pair of shoes worth $160 is exempt from sales tax.
True
500
What state is Bob Johnson based in?
California (CA)
500
Who is famous for saying this quote:
"The hardest thing in the world to understand is the income tax."
Hint: He was a genius!
