Unit 7: Vocabulary

money collected to help pay for things the government provides to its citizens

• taxes

• income

• budget

• expense

Tags

CCSS.L.6.6

CCSS.RI.5.4

CCSS.W.5.2D

CCSS.W.6.2D

CCSS.L.4.6

money paid by an employee or business to the federal state government based on an individual's or business' income as required by law.

(Goes directly to the federal government)

• income tax

• payroll tax

• sales tax

• property tax

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

money collected by an employer from an employee's salary based on employee income that is paid to the federal government on behalf of the

employee as required by law. (Includes Social Security and Medicare Tax)

• income tax

• payroll tax

• sales tax

• property tax

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

the amount of money collected by a store (retailer), in addition to a good or service that was purchased, for the local government as required by law.

(Set by the local government (city, county, and state) and the money stays within those local systems)

• income tax

• payroll tax

• sales tax

• property tax

Tags

CCSS.L.6.6

CCSS.RI.5.4

CCSS.W.5.2D

CCSS.W.6.2D

CCSS.W.4.2D

the amount of money collected from a property owner based on the value of a property for the local government as required by law. (A portion of the value of the property is given to different levels of local government (school district, city, and county))

• income tax

• payroll tax

• sales tax

• property tax

Tags

CCSS.L.6.6

CCSS.RI.5.4

CCSS.W.5.2D

CCSS.RI.4.4

CCSS.W.4.2D

money earned or received

• taxes

• income

• budget

• expense

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

the total amount of personal income prior to taxes and deductions

• gross income

• net income

• balance a budget

• budget

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

the income that remains after taxes and other deductions are taken from an individual's gross income.

• gross income

• net income

• budget

• expense

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

a monthly or yearly spending and savings plan for an individual, family, business, or organization.

(Categories may include net income and expenses, including savings and charitable contributions.)

• taxes

• income

• budget

• expense

to ensure the amount of income and expenditures are equivalent

• balance a budget

• expense

• gross income

• budget