Vocabulary
Vocabulary
Vocabulary
Taxes & My Income
Calculations/Conversions
100
The things you do well.
What is Abilities?
100
The things you like and enjoy doing
What is Interests?
100
A grouping of jobs and industries related by skills or products
What is Career Clusters?
100
FICA
What is Federal Insurance Contributions Act?
100
20%
What is .20?
200
Your natural talents.
What is Aptitudes?
200
This includes college or technical training, math, written and verbal skills, and technology skills to increase workplace productivity.
What is Academic Knowledge and Technical Skills?
200
Amount of monthly income remaining after all deductions have been taken.
What is Net Monthly Income?
200
Income, Sales and Property taxes.
What is the three main sources of tax revenue?
200
1.45%
What is .0145?
300
A social insurance system that provides benefits to most Americans who are retired, sick or too disabled to work, and to families of workers who have died.
What is Social Security?
300
The ideals that are important to you and your career choice
What is Values?
300
Total amount of earnings made over a month before any deductions (1/12 GAI).
What is Gross Monthly Income?
300
Taxes that are tied to the ability to pay.
What is Progressive
300
.1%
What is .001?
400
A portion of one’s personal income paid to a government.
What is Income Tax?
400
Required payments to a government
What is Taxes?
400
Income amount remaining after a year’s worth of deductions have been taken.
What is Net Annual Income?
400
Federal Income tax, Social Security (FICA), Medicare, State Tax and Local Tax
What is monthly deductions?
400
GAI divided by 12
What is GMI?
500
A social insurance program that extends health coverage to almost all Americans age 65 and over.
What is Medicare?
500
Total pay or earning made over a one-year period before any deductions have been taken.
What is Gross Annual Income?
500
Money received on a regular basis for work or through investments.
What is Income?
500
Taxes that remain the same regardless of ability to pay.
What is Regressive?
500
GMI minus all monthly deductions?
What is NMI?