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Gross and Net Income/ Financial Literacy Vocab. Flashcards | StudBud
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Gross and Net Income/ Financial Literacy Vocab.
Gross and Net Income/ Financial Literacy Vocab.
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1
Money added to the cost of retail items or services.
Sales Tax
Income Tax
Property Tax
Payroll Tax
2
Taxes paid on cars, houses, boats, and land.
Payroll Tax
Income Tax
Sales Tax
Property Tax
3
Goods that are sold to the public
Retail
Income Tax
Budget
Sales Tax
4
Money paid to the government in exchange for services.
Sales Tax
Income
Tax
Payroll Tax
5
Money an employer withholds from an employee's earnings. The total tax withheld.
Property Tax
Payroll Tax
Sales Tax
Income Tax
6
Which is always bigger?
Not Here
Neither
Gross Income
Net Income
7
Money paid to the government based on income.
Tax
Net Income
Payroll Tax
Income Tax
8
What is Patti's gross income?
$900
$681.19
$218.81
$162.35
9
Income before any taxes are taken out.
Tax
Gross Income
Sales Tax
Net Income
10
What is Patti's net income?
$681.19
$218.81
$162.35
$900
11
Income that is left after taxes are taken out.
Income
Gross Income
Tax
Net Income
12
Money earned from doing work.
Tax
Net Income
Income
Income Tax
13
What are Patti's payroll taxes?
$681.19
$162.35
$218.81
$900
