Taxes
Fees that the government requires people to live and work in their state.
What are taxes?
The three main forms of cash are currency, checks, and ___.
What is debit cards?
Items that you must have to survive (housing, transportation, food...)
What is a need?
The process of determining how much money you can borrow to buy a home.
What is pre-approval?
An ownership in a business.
What is equity?
A person who does NOT rely on another person for financial support.
What is an independent?
This payment method lets you buy now and make payments later.
What is a credit card?
Saving for two years before you buy a car is an example of this type of goal
What is a long term goal?
15, 20, or 30 years.
What are the typical mortgage payment options?
A source of equity financing for small businesses with exceptional growth potential and experienced senior management.
What is Venture Capital?
This agency is responsible for collecting federal income taxes for the US government.
What is the Internal Revenue Service (IRS)?
A 3-4 digit number to add an extra layer of security for purchases.
This is an example account that allows someone to deposit and withdraw money, write checks, an receive a monthly statement with no service charge (if they maintain a minimum balance of $500)
What is a checking account?
Income, assets, and credit score.
What are factors that lenders look at to determine what loans you are eligible for?
Gross profit minus expenses.
What is net profit?
You must file your federal and state income taxes by this date in April?
What is the 15th?
850 is this score.
What is the highest credit score?
A plan for how you are going to spend your money?
What is a budget?
Something valuable that the lender can take as payment if you can't or don't repay your secured loan.
What is collateral?
The tax which private and public limited companies must pay on their profits.
What is corporation tax?
This form shows how much money you made and how much you paid in taxes from the previous year.
What is a W-2 form?
This method of bill payment is programmed to pay the same amount to your lender each month on the same date.
What is an automatic draft?
An employer-sponsored retirement account.
What is a 401k?
A preset borrowing limit that can be used at any time.
What is a line of credit?
The part of a company's profit paid out to shareholders.
What are dividends?