anything subtracted from your gross income

Financial Literacy Vocabulary Flashcards

1

Money that you earn

2

Taxes withheld from a paycheck by an employer such as medicare and social security

3

A deduction is...

4

Income AFTER deductions or taxes

5

A tax on a sale of retail products (things that you buy) or services

6

When your income equals your expenses, it is called a

7

The total amount of income BEFORE any deductions

8

Tax paid to government on money that you earn

9

Tax paid whenever you own property, such as a home, buildings, and land

10

Money that you spend

Financial Literacy Vocabulary