Vocab for Unit 2. Income Definitions Matching Passing on of something because you are next in line to receive it Money you get from what you sell Money.

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Presentation transcript:

Vocab for Unit 2

Income Definitions Matching Passing on of something because you are next in line to receive it Money you get from what you sell Money you get from working Given to you by another person for a particular reason (birthday, thank you, Christmas, etc…) What you get from stocks, bonds, mutual funds Something else given to you at a job besides your income (bonus’, gifts, presents, etc…)

Answers Inheritance: Passing on of something because you are next in line to receive it Commission: Money you get from what you sell Wages: Money you get from working Gift: Given to you by another person for a particular reason (birthday, thank you, Christmas, etc…) Investments: What you get from stocks, bonds, mutual funds Benefits: Something else given to you at a job besides your income (bonus’, gifts, insurance, etc…)

Employment forms, college

Unit 2 VOCAB W-4 W I Plans FAFSA

W-4 W-2 form filled out before you are allowed to work, determines how much will be taken out for taxes form given to you from your employer so you can file your taxes (includes wages, salary, tax info) Employment Forms

W-4

W-2

Taxes Form filled out for filing taxes

I-9 employment eligibility verification form, US citizenship

529 Plans FAFSA savings plan designed to help encourage saving for future college costs Free Application for Federal Student Aid, used for college costs College Plans