Personal Finance

• Tax Evasion

  failure to pay legally due taxes
• Tax Avoidance 


  Legal means of decreasing your tax bill
• Direct Tax


  Pay directly to government
• Indirect Tax


  Collected by retailers or companies then paid to the government
• Luxury Tax

  Additional tax bill for more expensive items
• Regressive Tax


  Applied across the board, hits lower income people harder
• Progressive Tax


  Pay more in taxes then they make in income
• Flat Tax


  A constant taxrate
• Interest 


  Money paid regularly for the use delaying payment of a debt
• What part of the check is this?

  Check number

  
• What part of the check is this?


  Date

  
• What part of the check is this?


  Amount line

  
• What part of the check is this?

  Memo line or for line

  
• What part of the check is this?

  Bank routing number

  
• What part of the check is this?

  Account number

  
• What part of the check is this?

  Check number

  
• What part of the check is this?

  Amount box

  
• What part of the check is this?

  Signature line

  
• American revolution caused what?


  National debt
• Taxes were needed for what?

  To pay off debt
• What article and section of the US Constitution granted Congress the power to charge taxes?

  Article one section 8
• What percent of the US government budget is paid for by taxes?

  70%
• What percent of Forsyth county taxes come from house marketing?

  80%
• How many registered cars are in Forsyth county?

  320,000
• what was sin tax supposed to do?

  To be able to Reduce consumption of unhealthy products
• What’s the difference between a want and a need?

  A need is something you need to survive a want is something that would be nice for you to have but not necessary
• What part of the check is this?

  Payee line or pay to the order of line

  
• What are the six reasons we have to pay taxes?


  Financial aid, social services, public education, state and local police, national defense, and healthcare for elderly