Making Money
This is money you get paid for working
What are wages
This piece of paper can be exchanged for money or deposited in your bank
What is a paycheck
This is the main purpose of taxes
What is to pay for government
This is where taxes come from
What are my wages/paycheck
Getting paid per hour you work
What is Hourly Wages
This document lets you know how much money you made, and how much was removed
What is a paystub
These are taxes that come out of the money you make
What are income taxes
These are taxes that are added onto items you purchase
What is sales tax
Getting paid a set amount for the whole year
What is salary
This is the amount of money you actually get to spend
What are Net Wages
What are tax brackets
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This is the amount of money you earn (before deductions)
What is Gross Wages
This is how often most people get their paychecks
What is biweekly
Tax system where if you make more money, you pay higher % tax rate
What are progressive taxes
These taxes help pay for specific government programs like social security
What are payroll taxes
These are examples of deducations
What are taxes, insurance, retirement contributions
This is a way to have your paycheck put right into your bank account
What is direct deposit
This is a benefit of progressive taxes
People who can afford to pay more do, those who cannot afford to pay, pay less
This is what the IRS acronym stands for