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Published by zameriabutler05, 2019-09-13 15:13:42

Tax book

Tax book

What I know about taxes

What are taxes?

A sum of money demanded by a government
to support the government itself as well as

specific facilities or services

What is a community?

A group of people with common interests and
concern for the common good

What are the benefits of taxes?

What is federal income tax?
Majority of people living in the U.S.

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

What is a payroll tax?

A tax on earned income supports the social
and Medicare programs

How do employers contribute to payroll
taxes?

What is a property tax?
The fee to license a car is a property tax

What is a sales tax?

Anyone who purchases an item charged with
sales tax

What is an excise tax?

Anyone who purchases certain items that are
charged an excise tax

Excise taxes charged vary by location

What are the two most important things to
know about taxes?
New tax form
Lower tax rate


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