WHAT I KNOW ABOUT TAXES

WHAT ARE TAXES?

• A amount paid to the state or gov

WHAT IS A COMMUNITY?

• A group of people
• All pay taxes

THE BENEFITS OF TAXES

• Used for roads
• Used for schools
• Used for millitary
• Lets people pretty much pay for things
• They wouldent be able to normaly

WHAT IS INCOME TAX

• A tax on the money you have coming in
• Also interest

WHAT IS PAYROLL TAX

• A percentage of tax out of a paycheck
• Affects employers and employees

WHAT IS A PROPERTY TAX

• Tax on houses
• Also land

WHAT IS A SALES TAX

• Tax that is put on things you buy
• Food, electronics, etc.
• Some states dont have it

WHAT IS A EXCISE TAX

• Tax on consumables
• Cigarettes, alcohol, etc.

WHAT IS A W-2 FORM

• A form that is received before april
• Shows amount of money you made that year
• Shows amount of tax that was paid
• Sent by employers

WHAT IS A W-4

• It tells what amount the tax should be

QUESTIONS

• What date do you have to pay your taxes by?
• April 15th
• What are the 2 most important things about taxes?
• Paying on time
• Pay in full