CHAPTER 1
What is a consumer?
What is an individual who purchases goods and services for personal use
What is the meaning of a budget?
What is the maximum amount of money to spend when saving
Employee’s Withholding Allowance Certificate that helps an employer determine how much income tax to withhold from an employee’s paychecks as payroll deductions?
What is Form W-4
When was the federal income tax system created?
What is 1914
Marriage is basically?
what is the second family life cycle
What is the method of weighing the costs against the benefits of a purchase?
What is cost-benefit analysis
Should you include your savings in your budget?
What is yes
Wage and Tax Statement that shows your earnings and the amounts of income, Social Security, and Medicare taxes withheld from your earned income during the year?
What is Form W-2
How many pages did the tax code have?
What is 14?
Behaving with sensitivity to social, environmental, and economic issues.
What is Social responsibility
What are demographics?
What is the statistical characteristics of a population
What is social responsibility?
What is behaving with sensitivity to social, environmental, and economic issues
Imposes the same tax rate on all individuals or entities regardless of differences in income or ability to pay; also called a flat tax?
What is a proportional tax
How many state tax systems are there?
What is 50
Summary of the amount of money received and the amount paid for goods and services during a specific period?
What is Cash flow statement
What are ethics?
Moral principles or beliefs of a person's behavior
What is the second family life cycle called?
What is Marriage
Taxes paid by the employee and employer that are used to finance the federal Social Security and Medicare programs; also known as Social Security and Medicare taxes?
What is the FICA Taxes
What is the total number of taxing agencies?
What is 90,000
Making your own money means
What is income
What is inflation?
What is the Overall rise in prices
What is net worth?
What is the Difference between what you owned and what you owed
Money added to an employee’s base pay.
Do all states share the same taxing laws?
What is No
What is a strategy that can help you save money
What is paying yourself first