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PRESENTATION OUTLINE

WHAT ARE TAXES

MONEY PAID TO GOVERNMENT FOR PRODUCTS AND SERVICES

WHAT IS COMMUNITY

GROUP OF PEOPLE WORKING TOGETHER FOR A COMMON GOOD

WHAT ARE BENEFITS OF TAXES

ROADS,LIBRARIES,PUBLIC SCHOOLS AND MUCH MORE

WH IS INCOME TAX

TAX ON EARNED AND UNEARNED INCOME

WHAT IS PAYROLL TAXES

TAX THAT SUPPORTS SOCIAL SECURITY AND MEDICARE

WHAT IS PROPERTY TAX

TAX ON PROPERTY SUCH AS BUILDINGS,LAND AND MOTOR VEHICLES

WHAT IS SALES TAX

TAX ON ITEMS PURCHASED IN Retail Stores

WHAT IS EXCISE TAX

TAX CHARGED ON CONSUMPTION ITEMS

WHAT IS A W-2 FORM

REPORT ALL WAGES EARNED FROM YOUR JOBS DURING THE YEAR

WHAT IS A W-4 FORM

EMPLOYEES WITHHOLDING ALLOWENCE

2 IMPORTANT THINGS ABOUT TAXES

  • 1.USED TO PROVIDE PUBLIC GOODS AND SERVICES
  • 2.TAXES ARE THE LARGER EXPENSES PEOPLE HAVE