5th Grade Financial Literacy-Taxes and Income

The total income before any taxes are taken out is _______ ________.

A ________ is money added to the cost of items or services.

Is Net Income or Gross Income smaller?

What is income?

Goods that are sold to the public are call ___________ items.

_________ is the income that is left after taxes.

___________ is money that is paid based on the amount of money you earn.

______ are taxes paid to the government depending on the value of your home, land, or vehicles.

The total tax an employer withholds from a paycheck is called ________.

A ___ is money paid to the government for services, like road work and police protection.

Makenna bought a new pair of jeans at the mall. What kind of tax will she pay on the jeans?

Jason's parents bought a new house last week. What kind of taxes will they pay on their house?