Taxes
The tax paid on my lawn service.
Sales Tax
True or False: My net income is greater than my gross income.
FALSE
This is a legal paper document to transfer funds from the payers account to the payees account.
Checks
Rex earns $16 for every lawn he mows. He has to pay $19 each week for gas, $28 for his basketball lessons, and $14 for his math tutor. What is the least number of lawns he will have to mow in a week to pay his expenses?
4 lawns
Flynn's expenses: $30 bus fare, $17 computer rental, $78 dorm fees, $45 gym membership, and $60 meal plan. His expenses exceed his income. What should he reduce?
Gym Membership
My employer pays this tax for my Medicare and Social Security.
Payroll Tax
True or False: When I multiply the hours I work by my hourly wage, I get my gross pay.
TRUE
This is a plastic card that I can use to immediately deduct money from my account to pay for goods and services.
Debit Card
What is a balanced budget?
When your expenses are equal to or less than your income
Sarah's expenses: $28 cat food, $12 cat toys, $35 cat litter, $5 cat treats, $9 flea shampoo. Sarah's expenses exceed her budget. What can she reduce?
Cat toys and cat treats
The tax I pay if I live in it or on it.
Property Tax
True or False:To find my total deductions, I add together all of my taxes, health care, and any other money I owe to my employer.
TRUE
When I use this plastic card, I am borrowing money to pay for things now and I pay it back later with interest.
Credit Card
What is the first expense you should decrease when you don't have a balanced budget?
Entertainment
Jared's expenses: $450 rent, $150 groceries, $40 bowling, $78 electricity, and $26 bicycle maintenance. Jared's expenses exceed his budget. What can he reduce?
Bowling
This tax is deducted from my paycheck.
Income Tax
Ethan needs tires for his truck, but he won't get paid again until the end of the month. What is the best way for Ethan to pay for his tires?
Credit Card
I can use an app on my phone to pay friends and business money I owe them. It is immediately deducted from my bank account.
Electronic Funds Transfer
What does withdraw mean?
To take money out of an account.
Landon's expenses: $820 rent, $78 health insurance, $80 housekeeper, $95 electricity, and $65 oil change. Landon's expenses exceed his budget. What can he reduce?
Housekeeper
Ella pays $11.05 in property tax for every $1,000 in value of her land. If Ella’s land is worth $100,000, what will she pay in property tax?
$1,105
Miranda earns $450.75 at her part-time job. She pays $98.12 in federal income tax and $12.00 in other taxes. How can you determine Miranda’s pay after taxes?
Subtract the sum of the taxes from the total earnings.
This is paper bills and metal coins I can use to pay for things.
Cash or money
What a charge that is paid to a lender in return for borrowing money is called.
interest
Alex's expenses: $925 mortgage, $127 utilities, $134 dentist visit, $68 internet subscription, and $42 car wash. Alex's expenses exceed his budget. What can he reduce?
Car Wash