Surplus: Income is greater than expenses.
Deficit: Income is lesser than expenses.
PROJECT
LITERACY
FINANCIAL
Expenses: Adjust expenses.
Income: Make more money.
income: Money that we gain.
expenses: Money that we spend.
Fixed expenses: Can´t be adjusted.
Income < expenses
deficit
Income > expenses
surplus
Balance a Budget
Balance a Budget
Actions to Balance a Budget
Payroll: Taxes that are paid, mostly from employers, that are usually based on the salaries that they pay their staff.
property: Taxes that are paid by a land owners to a local government.
Income Tax: Taxes that are paid when money is earned by people and businesses.
Sales: Taxes that are paid when something is sold.
Gross & Net Income
Types of Taxes
Gross income: Total income for working.
Net income: Your take-home amount.
Deductions: Taxes and other amounts taken out or ut income.
HUNG´S
