Income
the money you earn for doing your job
Income
earnings, salary, wages
Income tax
money paid to the government based on a person's income
Income tax
this tax increases if you make more money
Payroll tax
money withheld from a person's earnings by their employer based on their salary
Payroll tax
combination of taxes such as social security or healthcare
Property tax
money paid to the government based different properties
Property tax
taxed on things such as, homes, land, cars, or boats.
Sales tax
money paid to the government on goods and services, such as groceries
Gross Income
the total amount a person earns from working
Gross Income
amount of money before taxes
Net Income
amount of money a person gets paid after taxes
Budget
a list of estimated income and expenses
Balanced Budget
when expenses = income
Unbalanced Budget
expenses are greater than income
Unbalanced budget
you want to spend more money than you have.
Expenses
purchases made on goods and services(money spent)