5.10 A Gross and Net Income Vocabulary Match

Match the following

• What you spend or pay.

• Reduce

• To make less

• Income

• A plan for a set amount of money.

• Expenses

• Money that you receive.

• Budget

• Equal Income and Equal Expenses

• Balanced

Match the following

• Paycheck

  after deductions / taxes.

• increased

• To make more

• Net Income

• Paycheck

  before deductions/ taxes.

• Gross Income

• Money that you earn or receive.

• reduced

• To make less

• Income

Match the following

• Paycheck

  after deductions / taxes.

• increased

• Money you ern from working.

• Gross Income

• Money before

  deducations / taxes.

• Net Income

• To make more

• Payroll Tax

• A tax deducted from your paycheck.

• Pay check

Match the following

• A person that works for someone.

• Adjust

• A Tax paid for land, a car, building

• Employee

• A tax taken our of your paycheck.

• Property Tax

• A tax paid for a good or service.

• Sales Tax

• Balance

• Payroll Tax

Match the following

• Money before deductions / taxes.

• wages

• A person that works for someone.

• Gross income

• Money after deductions/ taxes.

• Net income

• A person that hires people to work.

• Employer

• The money you earn.

• Employee

What is Gross Pay?

• A) Pay you receive after taxes and other deductions are taken out.

• B) Total pay before taxes and other deductions are taken out.

• C) A flat tax on your paycheck including Social Security & Medicare.

• D) A progressive tax on income charged by the federal government and most states.

Net income is:

• the total amount of money you earn

• the amount of money you receive after deductions are subtracted from your gross income

• the amount of money that is taken away in the form of taxes

• the hourly rate of pay

Tags

CCSS.7.EE.B.3

CCSS.7.NS.A.1

CCSS.7.NS.A.3

CCSS.7.RP.A.3