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PRESENTATION OUTLINE

WHAT I KNOW ABOUT TAXES

NICOLE SWANSON

WHAT ARE TAXES?

SUM OF MONEY DEMANDED BY THE GOVERNMENT

WHAT IS COMMUNITY?

GROUP OF PEOPLE WORKING TOGETHER FOR A COMMON GOOD

WHAT ARE THE BENEFITS OF TAXES?

ROADS,LIBRARIES, PUBLIC SCHOOLS, POLICE&FIRE DEPARTMENTS, MILITARY

WHAT IS AN INCOME TAX?

A TAX ON EARNED AND UNEARNED INCOME

WHAT IS A PAYROLL TAX?

TAX ON EARNED INCOME THAT SUPPORTS SOCIAL SECURITY&MEDICARE

WHAT IS A PROPERTY TAX?

TAX OF PROPERTY, HOMES, VEHICLES

WHAT IS A SALES TAX?

TAX ON ITEMS PUR HASED IN A RETAIL STORE

WHAT IS AN EXCISE TAX?

TAXES CHARGED ON CONSUMPTION ITEMS

WHAT IS A W-2 FORM?

WHAT YOU USE TO FILE YOUR TAXES, STATES HOW MUCH MONEY YOU MADE

WHAT IS A W-4 FORM?

  • Form you fill out for your employer to tell them how much you want out of your paycheck for taxes

WHAT DATE DO YOU HAVE TO PAY YOUR TAXES BY?

APRIL 15TH

WHAT ARE THE 2 MOST IMPORTANT THINGS YOU NEED TO KNOW ABOUT TAXES?

  • Taxes are deducted out of your paycheck
  • Taxes benefit you later on in life because of Social Security and Medicare