What do I know about Taxes

What do I know about Taxes?
Taxes are taken out of my paycheck to pay for government necessities.

What are taxes?
Taxes are fees put on items we buy or earn.

What is a community?
A community is a group of people with common interests.

What are the benefits of taxes?
They pay for public buildings such as libraries, fire stations, and schools.

What is federal income tax?
Taxes taken out of my paycheck demanded by the government.

What is state income tax?
Taxes taken out of my paycheck demanded by the state.

What is a payroll tax?
Taxes taken out of my paycheck to pay for others healthcare.

How do employers contribute to payroll taxes?
They pay the employees’ contribution and add their own contribution.

What is a property tax?
A tax on property such as cars and houses.

What is a sales tax?
A tax on retail goods and food. Dependent on the state.

What is an excise tax?
A tax put on certain goods before payment (Hotels, gas)

What are the two most important things to know about taxes?
Taxes pay for the government and they provide us with a stable society.