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What I Know About Taxes

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1.

WHAT I KNOW ABOUT TAXES

IAIN BARTA
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2.

WHAT ARE TAXES?

TAX IS MONEY PAYED TO THE GOVERNMENT TO PAY FOR GOVERNMENT SERVICES
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3.

COMMUNITY

A COMMUNITY IS A GROUP OF PEOPLE WORKING FOR A COMMON GOAL
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4.

BENEFITS OF TAXES

TAXES HELP PAY FOR ROADS, PUBLIC SCHOOLS, MILITARY, AND MUCH MORE
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5.

INCOME TAX

INCOME TAX IS TAX ON EARNED, SUCH AS PAYCHECKS,AND UNEARNED INCOME, INTEREST
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6.

PAYROLL TAX

MEDICARE AND SOCIAL SECURITY
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7.

PROPERTY TAX

TAX ON LAND, VEHICLES, AND BUILDINGS
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8.

SALES TAX

TAX ON ITEMS BOUGHT AT A RETAIL STORE
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9.

EXCISE TAX

TAX ON THINGS YOU CONSUME, SUCH AS GAS, AIRPLANE TICKETS OR HOTEL ROOMS
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10.

W-2 FORM

GIVEN TO YOU BY YOUR EMPLOYER TO FILE YOUR TAXES
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11.

W-4 FORM

USED SO THE GOVERNMENT KNOW HOW MUCH YOU NEED TAKEN OUT OF TAXES
12.

TAX DAY

TAX DAY IS APRIL 15
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13.

IMPORTANT THINGS TO KNOW ABOUT TAXES

  • Everyone pays them
  • No way to get out of it
  • It helps in the long run

Iain Barta