| A | B |
|---|
| Income | MAkes up the first part of the equation |
| Budget | A plan for managing your money during a given period of time. |
| Cash Flow | The money you have coming in as well as the money you have going out. |
| Federal Income Tax | Fee collected by the federal government to support its programs. |
| State Income Tax | Collected by every employer on behalf of its employees and then sent to the state revenue department. |
| Social Security Tax | It provides a small income an other services to the elderly, disabled Americans and orphaned minors. |
| Medicare Tax | Provides medical insurance to the elderly and to some disabled Americans. |
| Gross Income | The total amount of income from your wages or before any payroll deductions. |
| Net Income | Your "take home pay" |
