Ch. 10 Terms
the smallest amount that employers can legally pay their employees per hour of work
Minimum Wage
an asset that can be easily bought or sold
Liquid Asset
Tax form that comes to you from employer at the end of every year, showing gross income and taxes withheld.
W-2
Sales Tax is tax on goods that go to a BLANK and BLANK government
State and Local
a fixed annual amount earned by an employee, typically paid weekly, biweekly, or monthly
Salary
a financial market that trades shares of ownership of public companies
Stock Market
The form that you fill out telling a new employer what you want for tax deductions
W-4
Investing(Aka Building Wealth) is the BLANK foundation of personal finance.
Fifth
taxes paid by anyone who owns property, such as land, a home, or commercial real estate
Property Tax
a qualified retirement savings plan offered by a company to its employees who contribute money from their gross pay
401(k)
Completing this form is filing your tax return.
1040
The first place to start an estate plan is with a BLANK
WILL
a state tax on an asset an individual received from someone who has passed away
Inheritance Tax
the total dollar market value of a company or how much a company is worth
Capitalization
Form filled out beginning of employment if treated as a self contractor(taxes are not withheld)
W-9
Real Estate Investments have a BLANK risk
HIGH
a tax on certain goods that aren‘t typically considered a necessity; sometimes called a luxury tax
relationship of expected return (profit you expect to make) compared to the amount of risk (amount you stand to lose if the price goes down) taken with a given investment
Risk-Return Ratio
Form that reports Mortgage Interest(The interest paid on Mortgage Loan throughout the year)
1098
Bonds are sold by companies and governments. Bonds carry a BLANK risk
MODERATE