Chapter 11- Careers and Taxes

Question 1

Tax paid out by anyone who earns an income

Answer 1

Income Tax

Question 2

Money earned on a regular basis with little or no effort required to maintain it. Some things that produce passive income are real estate, intellectual property like books or internet content, or businesses in which the owner is not actively involved

Answer 2

Passive Income

Question 3

The process by which we “market” ourselves to others; involves highlighting personal strengths, interests and unique qualities and identifying goals

Answer 3

Personal branding

Question 4

Income generated by selling an investment at a higher price than you paid for it

Answer 4

Portfolio Income

Question 5

Taxes paid by anyone who owns property such as land, a home, or commercial real estate

Answer 5

Property Taxes

Question 6

A brief account of one’s professional or work experience and qualifications, often submitted with an employment application

Answer 6

Résumé

Question 7

Tax on goods and services that goes to your state or local government

Answer 7

Sales tax

Question 8

A federal insurance program funded by taxpayer dollars that provides benefits to people who are retired, unemployed, or disabled

Answer 8

Social Security

Question 9

Any income (wages/salary) that is generated by working

Answer 9

Earned Income