Taxes & Budgets worksheets
Taxes & Budgets worksheets give students in Grade 5 focused practice in taxes & budgets. This page has 2 free printable sets, grouped by grade, and every set includes a computed answer key that is never wrong. Print them or save as a PDF, no login needed.
How to teach it
Start from a paycheck: gross is what is earned, net is what is left after taxes come out. Name the four taxes by what they are charged on (income, wages, purchases, property), then total a weekly budget and compare it to income.
Worked example
Common mistake
Mixing up gross and net, and balancing a budget by ignoring an expense instead of cutting it or raising income.
What's inside
- Which tax is paid by people who own land or a home?
- Which tax is taken out of wages in each paycheck?
- Which tax is paid on the money a person earns?
- Leo earns $520 gross pay. $80 of taxes are taken out. What is Leo's net income?
- Max earns $490 gross pay. $20 of taxes are taken out. What is Max's net income?
- Which is larger, gross income or net income, and why?
Sample questions. Each set (A, B, C…) has fresh numbers and a computed answer key.
Accuracy and sources
These references support the wording and answer key used in this history resource.
- Texas Education Agency, 19 TAC Chapter 111, Subchapter A (Mathematics TEKS, Elementary) — The personal financial literacy and coin concepts on these pages follow the K-5 mathematics TEKS knowledge and skills statements (K.4, K.9, 1.4, 1.9, 2.11, 3.9, 4.10, 5.10).
Grade 5 Taxes & Budgets
Frequently asked questions
Are these taxes & budgets worksheets free?
Yes. Every worksheet on ChalkBee is free to view and print or save as a PDF, with no login required. Pro unlocks the printable answer key and removes the watermark.
Do the worksheets have answer keys?
The answers are computed in code from the exact questions on each sheet. The printable answer key is available with Pro.
What grades do taxes & budgets worksheets cover?
Taxes & Budgets worksheets on this page cover Grade 5. There are 2 printable sets in total, grouped by grade so you can pick the right level.
How do I print or download them?
Open any set, then use your browser's print option to print it or to save it as a PDF. The pages are laid out to print cleanly on standard letter or A4 paper.