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Week 9 Vocabulary-EW


income tax money paid to federal and/or state governments based on an individual's income as required by law
net income the income that remains after taxes and other deductions are taken from an individual's gross income
payroll tax the amount of money that a company withholds from its employees for the federal government as required by law
property tax the amount of money collected on the value of a property for the local government as required by law
sales tax 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
budget a monthly or yearly spending and savings plan for an individual, family, business, or organization
register a small table to track deposits added to account, expenses withdrawn from account, and current available balance
available balance the amount available in an account for a person, business, or organization to spend
balance to reconcile your budget or account statement with your check register to make sure the records match and are accurate
transaction a specific time or instance when money changes hands
financial record a formal record of the transactions made by a person, business, or other organization
Created by: whitee
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