What is sales tax? que es impuesto sobre la venta?

money collected when people buy goods or services

What is income tax?Que es impuesto sobre el ingreso?

money filed once a year by people who work/

What is one advantage (something good) about using electronic payments to pay your bills

You do not have to spend money on stamps to mail your bills

Can Charles afford a more expensive car? Why or Why not?Charles puedo pagar un carro mas caro?

Yes, because his expenses are less than his income

How can you balance your budget if your expenses are more than your income?

You can spend less on things you don't need.

How is Gross income different than Net income? Como es diferente el ingreso Bruto del Neto?

Gross income is $ earned BEFORE taxes and Net is AFTER taxes

What is payroll tax?Que es impuesto sobre la nomina?

money withheld by employers from income earned by employees

What is a disadvantage (something bad) about using a credit card INSTEAD of a debit card?

You have to pay interest on a credit card

What is property tax? Que es impuesto sobre la propiedad?

money paid by people who own land or property

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5th grade financial literacy questions #5thgrade

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Questions 9

Answers

1
What is sales tax? que es impuesto sobre la venta?
money paid by people who own land or property
money collected when people buy goods or services
filed once a year by people who work
2
What is income tax?Que es impuesto sobre el ingreso?
money collected when people buy goods or services
money withheld by employers from income earned by employees
money filed once a year by people who work/
3
What is one advantage (something good) about using electronic payments to pay your bills
You do not have to spend money on stamps to mail your bills
You do not have to carry cash with you.
The money comes out of your account faster.
4
Can Charles afford a more expensive car? Why or Why not?Charles puedo pagar un carro mas caro?
Yes, because he will look cooler if he has a new car
No, because his expenses are more than his income
Yes, because his expenses are less than his income
5
How can you balance your budget if your expenses are more than your income?
You can go to the movies more often.
You can give more money to help others in need.
You can spend less on things you don't need.
6
How is Gross income different than Net income? Como es diferente el ingreso Bruto del Neto?
Gross income is $ spent on bad stuff & net is spent on good
Gross income helps the government but Net income doesn't
Gross income is $ earned BEFORE taxes and Net is AFTER taxes
7
What is payroll tax?Que es impuesto sobre la nomina?
money collected when people buy goods or services
money paid by people who own land or property
money withheld by employers from income earned by employees
8
What is a disadvantage (something bad) about using a credit card INSTEAD of a debit card?
The bank doesn't like it when you use your credit card
Money comes out of your account faster
You have to pay interest on a credit card
9
What is property tax? Que es impuesto sobre la propiedad?
filed once a year by people who work
money collected when people buy goods or services
money paid by people who own land or property

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