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Financial Literacy
Financial Literacy
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Texas 5th Grade Standards #FinancialLiteracy TEKS 5.10 Personal Financial Literacy
Flashcards
13 cards
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Questions
13
Answers
1
calculated with the gross income amount then subtracting all the taxes paid to the government
income tax
Gross pay
Payroll tax
Net income
2
Money paid to the federal government based on your income
Gross pay
Income tax
Net income
Payroll tax
3
A tax that is paid to the local government on real estate
payroll tax
sales tax
income tax
property tax
4
Tax paid by a person who owns property(house, business, land, boats, automobiles, etc)
Payroll tax
Sales tax
Income Tax
Property tax
5
Tax paid by a person who purchases retail products (you and me)
Sales tax
Payroll ta
income tax
Property tax
6
Money an employer withholds from an employee's earnings
Sales tax
Property tax
Payroll tax
Income tax
7
Social Security tax and Medicare tax
Net income
Payroll tax
Sales tax
Income tax
8
Tax paid by the
employee
(person who works)
Income Tax
Payroll Tax
Sales Tax
Property Tax
9
Income that is
left after taxes are taken out
of the gross income
payroll tax
income tax
gross pay
net income
10
Can be charged on things such as cars, houses, boats, or land
sales tax
property tax
income tax
payroll tax
11
Tax paid by the
employer
(the boss/jefe)
Payroll tax
Property tax
Income tax
Sales tax
12
Paid by consumers on purchased goods and some services
property tax
payroll tax
Sales tax
income tax
13
Money paid to a city, town, or state government based on income
Gross pay
Income tax
Net income
Payroll tax
