The words you are searching are inside this book. To get more targeted content, please make full-text search by clicking here.
Discover the best professional documents and content resources in AnyFlip Document Base.
Published by 4jacobane, 2019-09-13 15:08:58

What are taxes.docx

What are taxes.docx

What are taxes?

What are taxes? A sum of money demanded by a government
to support the government itself as well as specific facilities or

What is a community? A group of people with common
interests and concern for the common good

What are the benefits of taxes? Road, libraries, public schools,
military for national security, police and fire departments,

What is federal income tax? tax on earned and
unearned income

• What is state income tax? Those living in
states with a state income tax

What is a payroll tax? A tax on earned
income that supports the Social Security
and Medicare programs

How do employers contribute to payroll taxes? A set
percentage of earned income

What is a property tax? An ad valorem tax on the

value of a property, usually levied on real estate.

What is a sales tax? A tax on sales or on the

receipts from sales.

What is an excise tax? Any duty on

manufactured goods which is levied at the
moment of manufacture, rather than at sale.

What are the two most important things to know about
taxes? New Tax Form. Lower Tax Rates.

Click to View FlipBook Version
Previous Book
Georgia's History
Next Book
REC 317 - 16 SEPTIEMBRE 2019