Financial Literacy Vocab

Vocab  

34 cards   |   Total Attempts: 188
  

Cards In This Set

Front Back
Taxes collected based on the value of the property you own.
Property taxes
Taxes collected based on the value of the items purchased
Sales Tax
Taxes collected based on the amount of taxable income you earn.
Income Taxes
Earnings that are taxable
Taxable income
Amount of money you must pay to the government
Tax
People who collect federal taxes
Internal Revenue Service
Unmarried taxpayers
Single
Married people who fill out one tax return together
Married filing jointly
Widower who meets the qualifications outlined by the IRS
Qualifying Widower
Married people who file two seperate returns
Married filing seperately
Special filing status for certain unmarried taxpayers who support people in addition to supporting themselves
Head of household
Sales tax
Flat tax
Sales tax
Proportional tax
When tax rate increases as the income increases
Progressive tax system
Percent of the tax schedule
Tax Bracket