Financial Literacy

Front

money earned or received

Back

Income

Front

The total amount of personal income before taxes and deductions.

Back

Gross Income

Front

Tax the boss takes out of your check for social security and medicare

Back

Payroll tax

Front

Tax on the value of a house, building or land

Back

Property tax

Front

Money paid to the government

Back

Taxes

Front

Tax on something you buy

Back

Sales Tax

Front

Tax on money from a job, paid once a year on April 15 to the IRS

Back

Income Tax

Front

The income that remains after taxes and other deductions.

Back

Net Income

Front

when your expenses and Income are equal

Back

balanced budget

Front

payment for goods and services, what you spend

Back

expenses