Defining Income Payroll Sales & Property Taxes
T.I.P.S.
Students must be able to define income tax, payroll tax, sales tax, and property tax.
Example
Define the following terms and give an example of an item of each type of tax.
- Income tax
- Payroll tax
- Sales tax
- Property tax
Digital Tools
Click on the following links for interactive games.Resources
Click on the following links for more information.
Federal Reserve System’s Resources for Educators
Teacher Online Resource Center
Money Smart Train-the-Trainer Videos
Understanding Taxes for Teachers
TEKS
5.10 Personal financial literacy. The student applies mathematical process standards to manage one's financial resources effectively for lifetime financial security. The student is expected to:(A) define income tax, payroll tax, sales tax, and property tax
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