Taxes
1. a sum of money that people and businesses have to pay the government in return for public services.
Taxes
6. Random question
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11.Money you earn or receive by working.
Income
16.Income that remains after taxes and deductions.
Net income
21. what should you do if your income is lower than your expenses?
Take something out
remove/eliminate an expense
2. Taxes you pay when you purchase a good or service.
Sales Taxes
7. The tag on that shirt says $25, but it will cost a little bit more thanks to the ___ ___ that will be added to it.
Sales Tax
12.spending money
Expense
17. Derick’s new job pays him $1,500 a week in ________ pay.
Gross
22. a plan that details how money will be earned and spent.
Budget
3. Taxes you pay when you own a home or land.
Property Taxes
8. A tax you pay on the value of your ranch.
Property Tax
13. The amount of money you earn before taxes are taken out.
Gross Income
18. _____ income is what you make before payroll taxes are taken out.
Gross
23. When both income and expenses are equal.
Balanced Budget
4. Taxes that employers take from the money you earn to pay for social security and Medicare.
Payroll Taxes
9. A tax on retail products based on a set percentage
Sales Tax
14. The income that remains after taxes and deductions are taken out.
Net Income
19. Lilly gets paid $500 a week, but her ______ income is $437.19 a week.
Net
24.Phone Bill
Expense
5. These are taxes the government takes from the money you earn.
Income Tax
10. The ______ ______ in this city are extremely high, so many people are buying homes elsewhere.
Property Taxes
15. What can happen if you do not have a balanced budget.
If the budget is not balanced, it can lead to a government deficit and increased debt.
20.A job advertises a salary of $62,000 a year.
Gross
25. Dalia's expenses are $50 Phone bill
$40 Gym
$350 Car payment
How much should her income be to have a balanced budget?
$440